Media Entrepreneur's Guide to Singapore 2009 Edition the Essential Guide for Entrepreneurs, Created by Industry

A very comprehensive guide that provides helpful information and tips for entrepreneurs in the media industry, who are looking to drive their companies’ growth through the various funding and equity choices available in the market. As an entrepreneur myself and a founder of a venture capital firm, I understand the challenges faced by entrepreneurs today. This is a recommended read for entrepreneurs who want an all-in-one guide on the ways to raise funds and chart greater success for their companies. Media

Eugene Wong Vice Chairman of the Singapore Venture Capital Association (SVCA) Entrepreneur’s Guide to Singapore The authority for information on Singapore’s fast-maturing media ecosystem. An essential read for every entrepreneur. 2009 edition

Pierre Hennes Deputy Chairman of Business Angel Network of Southeast Asia (BANSEA)

The essential guide for entrepreneurs, created by industry professionals

Supported by

www.megsg.com Media Entrepreneur's Guide to Singapore 2009 Edition The essential guide for entrepreneurs, created by industry

Produced by Expara Pte. Ltd.

Supported by:

The Business Angel Network The Singapore Venture Capital and Private The Indus Entrepreneurs (Singapore) The Media Development Authority of South East Asia (BANSEA) Equity Association (SVCA) Singapore (MDA)

Danger and opportunity: risk and return Valuation – what is the company worth? What do investors look for in a business plan? Business plan outline Business plan questions The fundraising process Copyright © 2009 by Douglas Abrams

Printed in Singapore

Copyright © 2009 by Expara Pte. Ltd. and The Media Development Authority of Singapore. All rights reserved. No part of this publication may be reproduced, stored in retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under the Copyright Act, without the prior written permission of the copyright holders.

This publication is distributed on the understanding that the authors and editors are not responsible for the results of any action taken on the basis of information in this work, nor for any errors or omissions. The publisher, and the authors and editors, expressly disclaim all and any liability to any person in respect of anything and of the consequences of anything done or omitted to be done by any such person in reliance, whether whole or partial, upon the whole or any part of the contents of this publication.

2 Media Entrepreneur’s Guide to Singapore Table of Contents

Table of Contents Title Page 1 Copyright Page 2 Introduction 4 Opportunities in Singapore for early and growth stage companies 4 Opportunities in Singapore for media entrepreneurs 4 The Media Entrepreneur’s Guide to Singapore 4 Challenges facing media entrepreneurs in Singapore 5 About our supporting organizations 8 Contributors 9 Editorial 10 Map of the Singapore Capital Markets 10 The Startup Fundraising Game Guide 12 Danger and opportunity; risk and return 14 Tips for Startup Success 17 Valuation – what is the company worth? 19 What do investors look for in a business plan? 22 Business plan outline 24 Business plan questions 27 The fundraising process 28 Equity Funding Sources 31 Venture Capital Funding 31 Angel Funding 57 Private Equity Funding 98 Corporate Investors 107 Specialized Funding Sources 109 Specialized Content Funds 109 Market Trading Platform 115 Debt Funding Sources 116 Featured Institutions 116 Institutions Participating in Public Sector Debt Funding Schemes 122 Public Sector Funding & Development Schemes 130 International Enterprise (IE) Singapore 130 Infocomm Development Authority (IDA) 134 Interactive Digital Media R&D Programme O!ce (IDMPO) 140 Media Development Authority (MDA) 143 National Research Foundation 144 SPRING Singapore 149 Other Agencies 155 Network Builders 156 Investor Organizations 156 Entrepreneurship Organizations 160 Government-linked Organizations 168 University Initiatives 173 Industry Associations 180 Industrial Partnership 187 Incubators 188 Advisory Services 194 Reading list for entrepreneurs 204 Index 207

Media Entrepreneur’s Guide to Singapore 3 Introduction

Introduction In 2009, Singapore is one of the best places in the world for a media entrepreneur to start or grow their business. Despite its small size, Singapore o"ers tremendous opportunities for entrepreneurs in general and for media entrepreneurs speci#cally.

Opportunities in Singapore for early and growth stage companies • Public policies promoting entrepreneurship and venture capital – Many initiatives have been made in areas such as education, facilities, regulations and #nancing to turn Singapore into a technopreneurship and venture capital hub in Asia. • Public policies supporting the venture capital industry. The private equity/venture capital industry in Singapore has grown substantially over the past 2 decades. Funds under management grew from about US$20 million in 1983 to more than US$10 billion in 2006, managed by 160 VC #rms. • A business friendly environment. Singapore ranks #11 in the world for starting a business and #1 in the world for doing business, due to its positive regulatory business environment. A new business can be established within six days (the average for the region is 46 days, and 16.6 for OECD countries) for less than 1% of average per capita income (the average for the region is 42.8%, and 5.3% for OECD countries) Singapore is ranked #2 in the world as a Network Ready Country, #1 in the world in Labor Force, #1 in Asia and #4 in the world in Investment Incentives and #2 in the world in Investment Potential. • Strong IP protection regime and corporate governance. Singapore has been voted the most IP-protective country in Asia, with the best corporate governance and the least corruption for the last two years. IP protection is especially important for IDM start-ups, where content may form an important part of their competitive advantage. • Strategic location. Singaporean start-ups are uniquely positioned to address one of the world’s largest and fastest-growing markets, consisting of countries within a 7-hour $ight-time radius from Singapore - including China, Indonesia, Korea, and Japan.

Opportunities in Singapore for media entrepreneurs Beyond these advantages for entrepreneurs in general, Singapore is especially attractive for media entrepreneurs. The outlook for the media sector in Singapore looks to be highly favorable for the next 5-10 years due to: • Support for the development of the media industry by The Media Development Authority (MDA) • A vibrant and growing private sector in Interactive and Digital Media (IDM) • A strong educational and University focus on media and digital media including The Interactive and Digital Media Network at the National University of Singapore (NUS) • Extensive public sector research and development in interactive and digital media, including the Singapore’s government’s National Research Foundation (NRF) investments in Interactive and Digital Media

The Media Entrepreneur’s Guide to Singapore Despite the signi#cant progress that has been made to date, the enterprise ecosystem for Singapore media entrepreneurs still has some gaps. There are three sources of external #nancing for companies: equity, debt #nancing and public-sector funding programs. Privately held media companies in Singapore, especially early- stage companies have signi#cant but unique challenges in acquiring funding from each of these sources. These challenges sparked the creation of the Media Entrepreneur’s Guide to Singapore.

4 Media Entrepreneur’s Guide to Singapore Introduction Challenges facing media entrepreneurs in Singapore There are several challenges facing Singapore media entrepreneurs which this book addresses: 1. Di!culty in #nding investors focused on the media sector 2. Di!culty in #nding the right public sector funding programs 3. Lack of general knowledge of the venture #nancing and fund raising process

Although there is a wide range of funding alternatives available for media entrepreneurs in Singapore, it remains di!cult for many companies to #nd investors for each stage of their company development. The venture investment industry in Singapore, including angel investors and venture capitalists, is still a relatively young industry itself. Almost all venture capitalists and many angel investors specialize in particular company stages of development and industry verticals. Traditionally most VCs and many angel investors have focused on the IT, software, and biotech markets. Media investments have averaged only around 9% of VC and private equity portfolios. Finding investors who are willing to invest in a media company at a particular stage in its development can therefore be a daunting task for media entrepreneurs, especially #rst-time founders.

Most of this searching is currently done through generalized investor information sources without a focus on media and through informal channels, with mixed results. Funding issues can be time-sensitive for companies; failing to acquire required funding in time can cause serious or fatal #nancial problems for the company. On the other side of the coin, investors who are looking for media-related deals often #nd a lack of deal-$ow. It appears that there is lack of e!ciency in the information market for both media entrepreneurs and investors.

In addition to di!culties in #nding private-sector investors, media entrepreneurs may have di!culty navigating the various public-sector support programs for which they might qualify and therefore may not be able to identify the appropriate or optimal programs for which to apply. Each program will have a di"erent focus, bene#ts and costs for entrepreneurs. Selecting the right option is critical both for the entrepreneurs applying for funding and for the agencies administering the programs, as applications to the wrong programs are a drain on resources at both ends.

Media entrepreneurs’ search for investment may also be hampered by a lack of understanding of the fund raising process itself, or of some of the key skills required for successful fundraising. These include understanding what investors look for in a business plan, the #nancial aspects of fundraising, and how to present e"ectively to investors once they have found them. These gaps in their knowledge can stop their fund-raising process just as surely as not being able to #nd investors. This book will address each of these gaps.

Raising funding in a crisis In addition to the usual challenges facing media entrepreneurs, 2009 brings the additional challenge of raising funding and growing your company during a global #nancial crisis. Reductions in demand, tightened credit markets, and potential investors who have su"ered signi#cant #nancial losses will all create additional obstacles on the road to entrepreneurial success (which is a di!cult road even in the best of times). However, like all crises, the current #nancial crisis can also create opportunities for new companies. Market and industry disruptions tend to create favorable conditions for new companies; investments in new Asian companies at this point may look relatively better than investments in the US (although this could change quickly), and media companies tend to do well on a relative basis in tough times. Lower valuations are a double-edged sword – they can hurt entrepreneurs, but they can also make investments more attractive to investors who do have cash to invest.

Contents of the guide This book is intended to be the de#nitive resource for media entrepreneurs looking to raise funding for their business in Singapore. It includes a detailed listing of funding sources for media entrepreneurs, including venture capitalists, angel investors, incubators, corporations, banks, institutions of higher learning (IHL) and public-sector

Media Entrepreneur’s Guide to Singapore 5 Introduction funding programs. In addition, the book includes how-to and tips on the #nancing and fund-raising process written by local investors. This book will help entrepreneurs locate funding sources for their business and then will help them to successfully proceed through the funding process. Our investor listings are drawn from: • The Business Angel Network South East Asia (BANSEA) • The Singapore Venture Capital and Private Equity Association (SVCA) • Business Angel Funds (BAF) • iJAM Micro-#nancing mentors • NRF early-stage venture funds • IHL-related incubators and investment programs • Public-sector investment programs • Other individual and institutional investors from our extensive network of investor contacts

Some of our how-to and tips on the fundraising process are drawn from Expara’s highly successful From Idea to Investment for the Media Industry workshop series, while others are written by local investors in the media space.

Contents of the Media Entrepreneur’s Guide to Singapore include: • Sources of equity funding – including VCs, angel investors, incubators, and funding programs with contact information, investment amount, stage and sector focus and other relevant details. • Sources of debt funding – banks who will lend to media companies, including contact information. • Special funding sources – other sources of private-sector funds which are accessible to media companies. • Public sector funding programs – detailed information on the various options and description of the programs, including eligibility criteria, forms of assistance and quantum of funding. • Network builders – networking events, institutions and service providers – valuable additions to the media entrepreneur’s network. • How-to and tips on the fundraising process including topics like: what do investors look for in a business plan, business plan outline and checklist, company valuation, requirements for di"erent types of #nancing, networking tips, investor presentation strategies, etc. The Media Entrepreneur’s Guide to Singapore is the only place that all of this information can be found in a single source, speci#cally targeted at the media industry.

Acknowledgements We would like to take this opportunity to acknowledge and thank our partners and supporter who have worked with us to create the Media Entrepreneur’s Guide to Singapore. This book has been made possible through the tremendous contributions and support of the Business Angel Network South East Asia (BANSEA), the Singapore Venture Capital and Private Equity Association (SVCA), The Indus Entrepreneurs (TiE) and the Media Development Authority of Singapore (MDA).

6 Media Entrepreneur’s Guide to Singapore Introduction

Douglas Abrams Editor Managing Director – Expara Pte. Ltd. Email: [email protected]

Expara: www.expara.com Book website: www.megsg.com

Media Entrepreneur’s Guide to Singapore 7 Introduction

About our supporting organizations BANSEA - Business Angel Network South East Asia has an extensive network of nearly 100 members who have the experience and expertise to o"er valuable insights to any start-ups. Many have private equity investment experience from various sectors and a track record in building successful companies. BANSEA is interested in investing in early stage ventures with scalable business models, clear competitive advantages and high growth potential.

SVCA - Singapore Venture Capital & Private Equity Assciation is a non-pro#t, private sector initiative with the following objectives: 1. Promote, develop and maintain the local VC and PE industry as a source of equity #nance; 2. Promote VC and PE investment; 3. Promote the VC and PE profession; 4. Represent the local Vc/PE industry in dealing with parties from other countries; 5. Foster interaction among members and investment community.

TiE - The Indus Entrepreneurs (Singapore) was founded in Silicon Valley in 1992 and has grown to become the world’s largest not-for-pro#t organisation nurturing entrepreneurs. Now a global organization operating in 12 countries with over 53 chapters and over 12,000 members, TiE has more than 1,800 Charter Members (membership by invitation only) around the world who are exemplary leaders in their professional disciplines. TiE Singapore was set up in July 2001 as a chapter of TiE Global. TiE Singapore’s mission is to foster conscious entrepreneurship globally through education, mentoring and networking, and aims to nurture Singaporean entrepreneurs to make a global impact. Already well on its way to being the regional hub chapter for Asia and the Middle East, TiE Singapore is creating a powerful platform for entrepreneurs, venture capitalists, private equity, angels, law #rms, and technology and management professionals.

The Media Development Authority (MDA) has been created to focus on and develop the media industry, putting Singapore at the forefront of the media age. The MDA has a dual-function role that contributes to developing Singapore into a vibrant global media city as well as a creative economy and a connected society. The #rst is to promote the growth of the media industry. The second is to manage content to protect core values and safeguard consumers’ interests.

About Expara Expara is a venture creation company founded in Singapore in 2003 by Douglas Abrams.It runs a virtual business accelerator for interactive and digital media companies and develops and teaches entrepreneurship and innovation experiential-exercise-based learning programs for entrepreneurs, start-ups, companies and public institutions in Asia. Expara’s mission is help build scalable value-innovation-driven ventures.

8 Media Entrepreneur’s Guide to Singapore Introduction

Contributors Douglas Abrams is the founder and CEO of Expara and Expara IDM Ventures, a venture creation company and a business accelerator for the interactive and digital media industry. He is also a founding partner of Parallax Capital Management, a funds management company. All three companies are based in Singapore. Prior to coming to Singapore, Mr. Abrams managed information technology at J. P. Morgan for 14 years. He is an Adjunct Associate Professor at the National University of Singapore’s Business School where he lectures on New Venture Creation for undergraduates and post-grads. He is also a Visiting Professor in Entrepreneurship for the Sasin Graduate Institute of Business Administration at Chulalongkorn University in Bangkok. Mr. Abrams is the Co-Deputy Chairman of the South East Asia Business Angel Investor Network. He graduated from the Annenberg School, University of Pennsylvania with a BA in Communications and received an MBA from The Wharton School.

Pierre Hennes is the co-founder and Partner of Upstream Ventures. Pierre has over 6 years experience in VC and new venture creation across Asia, supported by 8 years of international corporate and startup experience. Prior to Upstream Ventures, he held the position of Director of Marketing for a Brussels-based B2B e-procurement startup. Pierre currently serves on the board of several Upstream Ventures portfolio companies including Mikoishi Pte. Ltd. and Tagit Pte. Ltd. Pierre serves as Deputy Chairman of the Business Angel Network South East Asia (BANSEA), is a Committee Member of the SVCA (Singapore Venture Capital & Private Equity Association), is a Charter Member of TiE Singapore, and is the head of the NYU Stern Alumni Group in Singapore. He earned a B.A. with Honors in International Relations from Boston University, and an MBA from New York University’s Stern School of Business.

Wong Meng Weng is an amateur graphic designer, specializing in data visualization and the history of typography. His technology illustrations have been published in Esther Dyson’s Release 2.0 magazine, in Linux Journal, by the Internet Engineering Task Force, and at conferences such as OSCon, Think!, and the Asilomar Microcomputer Workshop. His “SPF” series of diagrams were instrumental in promoting the development of RFC4408 among the opensource community, and in encouraging widespread adoption of the Sender ID standard by hundreds of thousands of email sites. His “RSS/Email” family of diagrams describing a possible future for next-generation email were the subject of a 2006 Tech Talk at Google. While not dabbling in Perl, Adobe Illustrator, and InDesign, as a serial entrepreneur he works in the area of start-up #nancing as an angel investor, freelance mentor, technology futurist, and market strategist.

Media Entrepreneur’s Guide to Singapore 9 Seed Early Stage Growth Stage Late Stage from idea to prototype from product to revenue from revenue to pro!tability from pro!tability to exit Editorial: Editorial: 1 0 0 SPRING YES! matches4:1tostudentsunder26 If itfails,they’ll wishthey’d putless.C’est lavie! If your venturesucceeds,they’ll wishthey’d putmore in. Friends andFamily There’s theold-fashioned wayto raise money: by earningit, onedollaratatime. always Who needsexternal Bootstrapping MDA’s PILOTscheme50%fundsdigitalmediaandgamecontentdevelopment. Map oftheSingaporeMap Capital Markets Angel Investors The which holdspitchsessionsregularly. bestwaytoreachangelsisviaBANSEA, SPRING TECS Proof-of-ConceptandProof-of-Value schemesfundcommercialization. NUS Enterprise/Garag3·NTUVentures ·SITFStreamGlobal Thymos Capital Athena Innobator·AzioneCapitalExpara IDMVentures ·FrontEdge Capital iJam Incubators Finn EvdemonCapitalPartners 75,000 THE CAPIT S T E K R A M L TA I P A C E H T F O P www.mengwong.com/sg/capital/ A M S ’ G N E M Tigris Capital NRF Proof-of-Concept grant for IHLresearchers(sisterto NRF Proof-of-Conceptgrantfor TECS). invest $55,000 for typically 5–10% ofthecompany. typically invest$55,000for Mindef’s CSIT Mindef’s Tech InnovationFundhas “strategic” applications. money for Japan Venture Partners 125,000 SPRING SEEDScoinvestswithexternalinvestorsat2:1,upto$1M. DTA Capital(Malaysia) coinvested inVCfunds NRF EarlyStage [email protected] Imprimatur Capital 250,000 BAF Spectrum BAF Sirius ! nancing when you’ve gottonsofcustomers? backs theiJamfunds IDMPO (MDA) NRF IncubationScheme Raf 3V SourceOneCapital Walden International Upstream Ventures Extream Ventures " Tamarix Capital es Venture Partners Giza 500,000 Editorial: Map of the Singapore Capital Markets Standard Chartered PE Henderson Equity Partners Crest Capital Asia Tembusu Partners OWW Capital Partners Sycamore Ventures Peacock Equity Fund Singapore Press Holdings MediaCorp Piere & Pierce Group Hina Capital Partners UOB Venture Management JAFCO Asia Green Mountain Investments JAIC Asia Capital Philips Securities offers OTC listings as an alternative to IPO. Gobi Partners Vickers Venture Partners Vertex Management II IDG Ventures SBI Venture Capital SPRING Bridging Loan Programme matches bank loans 8:2. Mercatus Capital SkyVen Asset Management MacLean Watson Capital iGlobe Group Fortune Venture Management Walden International Extream Ventures Tamarix Capital Raf!es Venture Partners Upstream Ventures Giza 3V SourceOne Capital

SPRING Business Angels Scheme coinvests up to $1.5M with BAF & Sirius

1,000,000 2,000,000 4,000,000 8,000,000 16,000,000

Strategic Corporate Investment A big company might "nd you intriguing enough to invest; try contacting the venture arms of established players in your industry. 11 Editorial: The Startup Fundraising Game Guide

The Startup Fundraising Game Guide by Wong Meng Weng

Pretend that start-up fund-raising is a video game with four levels, complete with monsters who try to kill you, and a boss to defeat at the end of the level. This is your guide to the game.

Pre-Seed: from idea to business plan Describe your idea in the form of a problem-solution pair. Are You Have An idea you unusually quali#ed to execute the idea? Would it be hard for Level Goal Write a business plan somebody else to copy? Will it be useful to lots of people? Does it Time Limit 3 months solve a problem that people will have when your invention is done? Start Valuation $0 (assume 1 to 3 years development time.) Or does it exploit or answer End Valuation $500,000 some natural human desire? Have you checked to make sure that Monsters A Solution looking for a problem may try nobody else more competent, more experienced, or better funded to take over your brain. is already doing it? Is your idea compelling enough that smart, Helpers Business planning workshops hard-working people will want to work you for low pay, rather than You need an original, scalable, technological or working for themselves for low pay, or working for someone else for business model innovation high pay? If your answers are anything other than: yes,yes,yes,yes,ye Level Boss iJAM Mentor s,yes,yes, then try again. You raise $55,000

Seed: from plan to prototype

Build a prototype of your product. Show that the product is good You Have $55,000. A plan. A founding team. Access enough that many people care to use it. You may need to #le a patent, to sta", contractors, friends. An o!cially or a provisional patent. Filing will cost $20,000. appointed mentor. Level Goal make something people want The point of this level is to #nd out if you can make something that Time Limit 6–12 months people want. Me-too products are easy: somebody else helpfully Start Valuation $500,000 shows you something that people do want, but you have to build End Valuation $1,000,000 it again … and good engineers hate reinventing the wheel. Original Monster You might drift into consulting and never innovations are tough because whatever you build will be deeply new, get back on track. You might listen to too and by de#nition people won’t know if they want it until you build it. many potential customers. You might They might want it. They might not. (It may truly be undesirable, or listen to too few potential customers. Your the market may just not be ready). team might fall apart due to di"erences in work styles or communication styles. You If it turns out people don’t actually want what you’ve built, game might not be able to hire the skills you over; give up and start over with something else. need. This is a good time to develop Defensible Intellectual Property, Helpers Cheap o!ce space at incubators. Parents usually in the form of a patent, but sometimes in the form of software who don’t charge you rent. that would be hard for someone else to write. First-mover advantage You Need A working product/prototype that counts too. nonpaying users like a lot. Level Boss Angel Investors or Seed-Stage VCs You Raise $2,000,000

12 Media Entrepreneur’s Guide to Singapore Editorial: The Startup Fundraising Game Guide

Series A: from product to revenue

Congratulations! You have developed a product that people like. For You Have $300,000. A product. A few people who your next trick, make it pay. use it without paying. Half a dozen people on sta". Discover your revenue model. Convert A little advice on pricing: do try to compete on features and Level Goal functionality, not price. Especially in a young space, competitors must your users into paying customers, or gain apply a value-based pricing model. Failure to charge a premium is a new users who are willing to pay. Or, if failure to validate market demand. “Better-faster-cheaper” is one way your model is advertising, bring in lots of to innovate, but it’s a hard business to be in. Better to innovate around eyeballs and sell ads. a truly original concept that makes it possible to do something that Time Limit 12–18 months could never be done before. Changing the world – that’s why you got Start Valuation $1,200,000 into this in the #rst place, isn’t it? Surely it wasn’t about the money. End Valuation $2,500,000 Monsters Your competition may demoralize you. If you can refer VCs to paying customers who love your product, you’ve Your team may argue fruitlessly about made their job much easier. VCs are only human, and they don’t have which features to add and what products the domain experience that you do. Will your idea succeed? Who to build. You may enter a price war in an knows? They certainly don’t. You can pitch ’til you’re purple but at the e"ort to gain market share. You may waste end of the day it all comes down to traction. Have you got it? Can you months fundraising and not actually prove it? Show me the money! executing. Helpers Contractors and infrastructure providers Speci#cally, your pro forma #nancials need to show that there’s a lot that you can outsource to. of demand out there, and that you can sell it for more than it cost to You need A product that paying users like a lot. make. Business 101. Level Boss Series A VCs You raise $2,000,000

Series B: from revenue to pro#tability

If you can reach pro#tability, somebody will buy you. And if they You Have $2,000,000. A product. A way to charge don’t, you can at least keep running and pay yourself a decent salary. money for it. Users who’ll pay. 10 to 20 (If you can’t pay your sta" and yourself a decent wage, you’re not people on sta". reallly pro#table.) Some companies reach this point without raising Level Goal Pro#tability. external capital: we call that “bootstrapping.” Time Limit 12–18 months. Start Valuation $4,500,000 Few CEOs can stay with a company through its entire life cycle from End Valuation $9,000,000 startup to growth-stage SME to mature big company. Start on your Monsters You may have to completely rebuild your exit strategies: it’s time to give your investors their money back. product in a way that actually scales to many more users than you had originally And start thinking about succession: there’s nothing so sad as a CEO expected. You may lose money on certain who can’t keep up with the demands of his o!ce: the technologist kinds of customers, and you may gain too who likes to get his hands dirty because deep down he hates many of those kinds of customers. Your managing; the team lead who can handle ten but not a hundred; position may outgrow you. the authoritarian who cannot delegate … if this is you, do yourself a Channel partners and distributors who favour and step aside. Helpers will help amplify your sales model. To make more money than you spend. The Game Guide stops here. Past this point, either you already know You need Series B VCs what to do next, or you need to #re yourself and hire someone who Level Boss $5,000,000 does. You raise

Good luck!

Media Entrepreneur’s Guide to Singapore 13 Editorial: Danger and opportunity: risk and return

Danger and opportunity; risk and return By Douglas Abrams

Dangerous point or turning point? This Chinese character (pronounced “Wei Ji”), like many Chinese characters, is composed of two individual characters, each one with a di"erent meaning. The #rst character means “danger” and the second means “opportunity.” When combined, they mean “crisis”. The word “crisis” is commonly associated with “a situation that has reached an extremely di!cult or dangerous point” with special attention paid to the element of danger in the situation. However, a key sense of the word crisis is that it refers to a “turning point for better or worse.” In this way, “Wei Ji” encapsulates the essence of venture capital investment. Further, I believe that these two subtly di"erent de#nitions of the meaning of this word can help to explain the fundamental reasons for investing in venture capital.

Risk and return To better understand the relationship between “Wei Ji” and the essence of venture capital investment, it will help to substitute “risk” for “danger” and “return” for “opportunity” to relate the concepts more closely to #nance. Investors must deal with risk and return on a daily basis; these concepts may become so familiar that we take them for granted. This familiarity can become dangerous as making accurate assessments of risk-adjusted returns is critical to success in venture capital investing. The individual’s propensity to take risk - their level of risk aversion or risk seeking behavior, can also play a signi#cant role in decision-making. In situations like these, it can be useful to take a step back and look afresh at risk and return so as to make sure we are seeing them clearly. Answering some basic questions about risk and return can lead to a greater insight into this fundamental area of investment decision-making. These questions are: 1. What is risk? 2. What is the relationship between risk and return? 3. Why does this relationship hold true?

What is risk? One common de#nition of risk is “probability of loss.” This type of understanding of risk can be useful in the physical world, where the potential returns to many types of risk are heavily shifted toward the downside. For example, the risk of loss through a serious head injury incurred by riding a motorcycle without a helmet so far outweighs whatever potential gains might accrue that it makes sense to analyze this risk just in terms of the probability of loss. However, in the #nancial What is the relationship between risk world, this type of common-sense analysis not only ceases to make sense, it is highly likely to lead to suboptimal investment decision-making. In the #nancial world, “risk” is better understood as the variance of the potential returns from an investment. An investment with a low variance of its potential returns would be considered a low-risk investment while an investment with a high variance of its potential returns would be considered a high- risk investment. The key di"erence in de#ning risk as the probability of loss versus de#ning risk as the variance of

14 Media Entrepreneur’s Guide to Singapore Editorial: Danger and opportunity: risk and return potential returns is that a high variance of returns can create both high loss and high gain. The common association of risk with loss treats only downside risk while ignoring upside risk. In a world with only downside risk, all rational people would be risk averse. In a world where there are both upside risk and downside risk, rational people can be risk averse, risk seeking or risk neutral. and return? Risk and return are highly positively correlated. This correlation is often expressed as “High risk/high return; low risk/low return. These two statements may seem to be perfectly parallel; in fact they are not parallel at all, but are making two very points about risk and return. This di"erence can be clearly seen if we rephrase each statement in the form of an If/Then proposition. When we transform the statement “low risk/low return” in this way, it becomes “If I take low risk, I will receive low return,” which is essentially true. However, if we transform the statement “high risk/high return” in the same way, it becomes “If I take high risk, I will receive high return,” which is clearly not the case. This is not the case because of the nature of high risk, which means that the returns will have a high variance, so that we would need to transform this statement to say: “If I take high risk, I may receive high return, low return or no return at all.” However, a more meaningful transformation would be: “If I want to receive high return; I must take high risk.” This is true because as much as we might wish that there were, there are for all practical intents and purposes, no low risk/high return investments.

Why are there no low risk/high return investments? How many people have ever found coins in the street? Almost everyone. How many people have ever found a $100 bill in the street? I have asked this question of several thousand people, and only one or two have ever found one (or the equivalent amount note in another currency). Why is it that you are likely to have found coins in the street but you have not found a $100 bill? At #rst you might think it is because people are very careful with their $100 bills and do not drop them in the street, but are careless with their coins. This is true and the supply of $100 bills in the street is therefore extremely low. But since some people have actually found these $100 bills, they do exist in the street from time to time, but chances are you still haven’t found them. The reason that you haven’t found them is that on the rare occasions that they do appear on the street, someone else always #nds them #rst. Finding a $100 bill in the street is a low risk/high return opportunity. Like all low-risk/high-return opportunities, if they do appear for a $eeting moment, they are immediately erased by market forces (in this case the market forces are people picking up the bills as soon as they appear).

In an investment market, the mechanism would be more complicated but the end result would be the same. Take for example, an investment in a particular company that was mis-priced so that the return on the investment was not correlated with the risk of the investment; the return was too high relative to the risk of the investment. The result would be that investors would $ood into this investment. In an investment market, investors are selling capital and investees are buying capital. The return that the company is paying to its investors is the cost of capital for the company and the price at which the investors are selling their capital. If a company is paying too high a price for their capital (i.e. o"ering a return that is too high), many investors will be willing to sell them capital at that price. The supply of investment capital for the company will increase. Assuming that the company’s demand for capital does not increase at the same rate, the price that the company is willing to pay for their capital will decline, as this is a cost from the company’s perspective. Lowering the price they are paying for capital means that from the investor perspective, the return on the investment will be decreasing. This will continue until the investment’s return is correlated with its risk. The forces of supply and demand act inexorably to enforce the correlation between risk and return. Another low risk/high return investment will have disappeared.

Media Entrepreneur’s Guide to Singapore 15 Editorial: Danger and opportunity: risk and return

This correlation between risk and return and the consequences of this correlation are the fundamental driving forces behind venture capital. Since chasing low-risk/high return opportunities is a losing proposition, investors seeking high returns must take high risk. For almost all time horizons in the last 20 years, venture capital has been the highest returning asset class available to investors, outperforming the public equities markets by a wide margin. Within the venture capital market itself, early stage venture capital investments which are more risky have consistently yielded higher returns than later stage venture capital. As long as the relationship between risk and return continues to be enforced by the laws of supply and demand, there will continue to be demand for venture capital investment by investors seeking the highest possible returns.

16 Media Entrepreneur’s Guide to Singapore Editorial: Tips for Startup Success

Tips for Startup Success By Pierre Hennes

Asia is experiencing phenomenal growth in online and mobile penetration, driven by improved connectivity and bandwidth, and the proliferation of low cost hardware. Technological advancements have lowered the consumer’s barrier to access for digital content, and Asia’s youth (over 40% of the population is under 25) are hungry for innovative and networked online experiences.

In the race to achieve cross-platform customer ownership, companies are developing new business and revenue models, and are using emerging digital content creation and distribution platforms to reach and monetise their target audiences. Free-to-play, pay-per-use and micro-transactions dominate today’s revenue models, which perfectly suit a cost-conscious audience with “bite-sized” entertainment consumption habits.

Incumbents and investors are taking note of these opportunities and investment in new media will continue to be robust. However, Asian markets are fragmented and reaching customers across various languages and distribution networks carries added operating risks and cost. Young companies with limited resources must manage these risks carefully. This message is even more relevant for the Singapore-based startup, which has the added challenge of a small domestic market, driving management to think beyond its home territory from the start. Following are some tips to help overcome these challenges and manage these risks:

Start with a clear vision It is essential for management to be able to clearly de#ne and e"ectively communicate the company’s vision and direction to both internal and external stakeholders. Young companies are often distracted by the world of possibilities that lay before them and lack of focus can be particularly costly, especially for those with limited resources. In the early stages of a company, it is important to create and instill a culture of disciplined execution to ensure limited resources are allocated prudently and that daily activities are aligned with the company’s overall goals.

De#ne the road map Investment decisions typically start with a business case that outlines the rationale for a project or idea, providing justi#cation for pursuing a course of action. As a follow-on to the business case, the business plan describes speci#cally how the company will execute and what resources are to be allocated to make the project a success. Successful and consistent execution of the company’s business plans is crucial to building con#dence and credibility with your key stakeholders, including customers, employees and investors.

Build a stellar team The e"ective leadership team instills a culture of execution early in the life of a company by communicating the company’s vision, and attracting and motivating the best people to band together as a team in pursuit of the same. While creative forces and invention are typically the drivers for media companies in their earliest stages, an innovative and commercially driven team is essential to the revenue-generating capabilities of the company. Investors look carefully at the company’s talent, capabilities and the opportunity, but are particularly keen on the team’s ability to quickly generate multiple sustainable recurring revenues streams. Balance the creative passion of your company with a team of people who have demonstrated track records in launching, selling and servicing product into new and expanding markets. Reward your best people through a combination of company and project-related incentives. Inclusive and regular communication with your team helps ensure that they stay motivated and focused.

Media Entrepreneur’s Guide to Singapore 17 Editorial: Tips for Startup Success

Drive the execution Whether creating original innovative content or engaged in co-production and outsourcing, it is important that your product or service is launched on time and on budget. If the launch is successful and monthly P&Ls are met or exceeded, then you are on the right path to pro#tability. Ensure that the underlying technology of the product is robust, scalable, and that it can stand the test of deployment across multiple markets. Emphasize speed to market by leveraging existing market assets for content & technology, but understand the risks of partnership. Take time to research your partner’s capabilities, limits and #nancial position to determine whether they can deliver up to the standards that you require.

Adopt a customer-centric focus Distributors and end-users are two customers that require a di"erent approach to service: the former requiring robust technology, strong service and support, and innovative and creative content; the latter focusing on the user experience, which is increasingly community based, sticky and innovative. Understand your core markets, focusing on the highest yielding ones #rst. Success in one market should be followed by an e"ort to shore up your development and operations frameworks, which can then be leveraged to build the franchise and extend into new markets and platforms. Leverage your channels and diversify your revenue streams. Understand the complexities and nuances of the sales process, for they di"er from market to market.

Raise su!cient capital One of the greatest mistakes a startup can make is to raise insu!cient capital to fund its operations. Estimate your capital requirements using a milestone-based approach that orients the company toward achieving signi#cant business objects that drive company value. Cash is King, and cash $ows require careful planning and management. Plan for a contingency. Be conservative. It always takes longer than you think, especially for new teams.

Choose the right investor Singapore’s #nancial ecosystem is rich with options in the form of equity investments from individual angel and professional investors, project-based #nancing, grants and loan programmes. Start by networking and developing relationships with key players in the market. Understand the investor’s criteria and determine what value beyond funding (networks, capabilities, management) they will add to help accelerate your company’s growth. Finally, be mindful that the relationship with your investors is a long one, so choose your partner carefully.

18 Media Entrepreneur’s Guide to Singapore Editorial: Valuation – what is the company worth?

Valuation – what is the company worth? By Douglas Abrams

Valuation – what is the company worth? This may be the single most important question that entrepreneurs and venture investors need to resolve prior to an equity investment in the entrepreneur’s company. Many aspects of the entrepreneur-venture investor negotiation are potentially win-win; valuation however is usually not. In an equity investment, the investor injects funds into the company in exchange for equity, most often in the form of ownership shares in the company. The key issue then becomes: how many shares will the investor receive for a given investment in the company? The answer depends on the valuation of the company. The investor will receive a percentage ownership of the company equal to the investment divided by the (post-money) valuation of the business. Post-money valuation means the value of the business after the investment. For example, if the investor puts in $1 million and the pre-money valuation (value of the business before the investment) of the business is $3 million, the investor will receive 25% of the company’s shares [1 / (3 + 1)]. So far, this all seems simple enough. It should seem simple at this point, because we have skipped over the most di!cult part – how to assign a value to the business.

Valuing a business is not a simple exercise. A naïve approach using the balance sheet or market value of assets, or a multiple of book value will arrive at a kind of valuation, but not one that will make sense in valuing a company for venture investment. This type of valuation will give the liquidation value of the company, whereas venture investors are valuing the company on the basis of its future prospects.

There are two major approaches to forward-looking valuation – fundamental value and technical value. In fundamental value, it is assumed that there is a #rm foundation for the value of the company. The company has an intrinsic value equal to the present value of its future cash $ows. In technical value, the company’s value is determined solely by the market price – it is equal to whatever someone is willing to pay for the company. This is also sometimes referred to as “the greater fool theory,” meaning that as long as you can #nd someone to pay more for the company than you paid, the value is whatever they are willing to pay.

The main determinants of value in a fundamental value approach (as applied to venture investing) are the expected growth rate of earnings and the degree of risk in the investment. Fundamental value is generally calculated using pro-forma (forecast) #nancial models of the company over a 3-5 year time horizon. The company’s future stream of earnings and cash $ows are estimated and the intrinsic value is calculated from these streams. This approach seems to be quite rigorous, but there are some big issues that arise when valuing companies this way. Expectations about the future cannot be proven in the present, fundamental inputs are all crude assumptions, the assumptions can be manipulated to arrive at almost any result and the model may exhibit extreme sensitivity to a few inputs.

There are four methods that are widely used to value private companies by venture investors: 1. Discounted cash $ow (DCF) 2. VC method 3. Comparables 4. Rule-of-thumb

Broadly speaking, the #rst two methods are fundamental, and the last two are technical.

In the DCF method, a pro-forma model is used to forecast the company’s cash $ows, which are then discounted

Media Entrepreneur’s Guide to Singapore 19 Editorial: Valuation – what is the company worth? back to their net present value (NPV). The key assumptions in the DCF model are the growth rate of revenues and the discount rate used. In a DCF valuation, the discount rate is usually the company’s weighted average cost of capital (WACC). Since venture invested-companies are usually 100% equity-#nanced, the company’s WACC should be equal to its equity cost of capital, which should be equal to the investor’s required return on investment (ROI or annually an internal rate of return - IRR). Issues with using the DCF method are the uncertainty of the projected cash $ows (garbage-in/garbage out) and the extreme sensitivity of the calculation to the choice of discount rate.

The VC method is a variation of the IRR/NPV method, but one which works backward from the investor’s required ROI, rather than forward from the cash $ow forecasts. The inputs to this calculation are estimates of: 1. The valuation of the company at exit (e.g. 5 years from now) 2. The investor’s target return multiple for a successful exit 3. The investor’s expected equity percentage retained at a successful exit

These will yield an investment recommendation, where the investment required by the company is compared to the discounted value of the exit valuation to the investor, adjusted for the investor’s retention percentage.

As a variation of the NPV/IRR method, the VC method su"ers from the same limitations as the DCF method, with the additional challenge of calculating the likely exit price 3-5 years hence. The further in the future forecasted numbers occur, the higher the degree of error in the calculation. The calculation of equity required also needs to take into account dilution that will occur in future #nancing rounds.

The comparables method uses a value that has already been established through a valuation of a similar company. The valuation of the current company is then adjusted up or down based on its di"erences to the comparable company. The di!culties with comparables valuation mainly revolve around what constitutes are comparable company (industry, market, stage of development, etc.) and how much to adjust for the di"erences between the companies. Applying comparables to private companies, as venture investors will need to do, is further complicated by di"erences between valuing private companies (of interest to the investor) and public companies (for which there will exist the most data). Data to compare private companies to one another may be sparse and di!cult to obtain.

The rule of thumb method is similar to the comparables method, except that rather than comparing the company of interest to one or several comparable companies, the company of interest is compared to the overall market. For example, the pre-money valuation of seed/start-up companies has typically been in the range of $1-$3 MM. An investor using the rule-of-thumb method to value a seed stage company will therefore estimate the valuation to be in this range. Where the company falls within this range will usually be determined by the investor’s qualitative assessment of the company’s product, IP, market, management team and other critical factors to investors.

In practice, investors will often use a combination of several or all of the above methods to arrive at their valuations. In the end, the valuation of a business, like all prices, is determined by negotiations between entrepreneurs and investors. Valuation e"ectively determines the share price, and prices are always determined by supply and demand. But in a principled negotiation, both sides must have a rationale underlying their positions. This is especially important in entrepreneur-venture investor negotiations, because although they are on opposite sides of the table before the investment, after the investment they will become business partners, with both of their interests served by the success of the company. It is critical that both sides feel they were fairly treated in their negotiation; otherwise one might have won the battle but lost the war. Since valuation is such an important issue to both sides, it will serve both of their interests to arrive at a fair and reasonable valuation.

20 Media Entrepreneur’s Guide to Singapore Editorial: Valuation – what is the company worth?

Media Entrepreneur’s Guide to Singapore 21 Editorial: What do investors look for in a business plan?

What do investors look for in a business plan? By Douglas Abrams

“What do investors look for in a business plan?” is a bit of a tricky question. The term ‘investors’ covers a very wide range of institutions and individuals, ranging from billion-dollar venture capital funds making multi-million dollar investments to friends and family putting a few thousand dollars into a new company. For the purposes of this article, I am going to use what I consider the average venture investor – ranging from the sophisticated angel investor to a VC fund. Although even within this group there will be some variation. Some investors will weight some elements di"erently; some may ignore some of these, some may add in their own which are not found in the following list. But if your business plan: • includes each of the key elements listed below, • follows the detailed business plan outline, and • answers the business plan questions,

You will be well on your way to satisfying the requirements that most investors have for a business plan. This in itself does not mean that you will receive investment, but it does mean that you are unlikely to be eliminated from consideration for investment because your business plan does not meet the investor’s expectations.

Key elements for success • Develop an innovative product – Innovation. Have something proprietary, new and useful underlying your business plan. This can be a technology, a business model, a process, etc. • Solve a problem for customers – Value proposition. Solve a painful problem for customers. You want to have a “pain-killer” versus a “vitamin” value proposition, meaning you want to be a customer “must-have” rather than a “nice-to-have”. • Identify your customers – Market identi#cation and analysis. Address a fast-growing market, which will be large enough to support the required scalability of your business. • Reach your customers – Marketing strategy. Have a strategy for reaching your market. • Compete when others enter - Sustainable competitive advantage. Have IP and competitive strategies to create barriers to entry for followers and large potential competitors. • Make money – Business model and #nancial plan. How much money do you need, what will you do with the funds, how will you make money, how much revenue can you generate, what type of returns can you deliver? • Team – A team or B team. A strong team can succeed with almost any plan; a weak team will fail with the best plan in the world. The strength of your team, individually and singly, needs to come through clearly in your plan.

But isn’t media di"erent? Many media entrepreneurs believe that their businesses are “di"erent” from the typical businesses that equity investors consider, and that therefore they cannot raise equity funding for their business. They are right and wrong at the same time. Their business are di"erent, but all businesses are di"erent. Media has typically not been a large percentage of VC and private equity portfolios, but that does not mean that they cannot raise equity investment. The media industry itself is changing rapidly, and many of these changes make it more interesting to investors.

The media entrepreneurship community in Singapore has been divided into four segments: traditional media

22 Media Entrepreneur’s Guide to Singapore Editorial: What do investors look for in a business plan? entrepreneurs whose business are built around 1) content or 2) media-related services, 3) new media entrepreneurs whose businesses are built around emerging media content and 4) IDM entrepreneurs whose businesses are built around media innovation, including technology innovation and business model innovations. The #rst three segments can be loosely described as “Content” entrepreneurs and the last segment as “Tech” entrepreneurs.

Although there are many potential synergies among the four groups, to a large degree they operate in silos, and in the process miss out on opportunities to bene#t from synergies among the groups. New media and IDM are closer to the traditional industry segments that equity investors have focused on. Content entrepreneurs too can increase their chances of raising funding and successfully growing their business by looking for opportunities to expand into less- traditional spaces and by partnering with companies in the non-traditional spaces who are looking for content.

Media Entrepreneur’s Guide to Singapore 23 Editorial: Business plan outline

Business plan outline Cover page and table of contents • Company name • Product name • Con#dentiality statement • Disclaimer Do not include a non-disclosure agreement (NDA) as most investors will not sign an NDA at this stage.

Executive summary Summarize all key points in your business plan. This may be all the investor will ever read. It should be 1-3 pages long. Your executive summary should include: • Value proposition and innovation • Market identi#cation and analysis • Marketing and sales strategy • Sustainable competitive advantage • Company products and services • Team • Operational plan • Expansion plan • Financials

Value proposition and innovation • Value proposition - What problem are you solving for customers? Quantify bene#t if possible • Innovation - What is new about your product? Market identi#cation and analysis Establish that there is a fast growing market for your product. Show that you understand your competition. Include in this section: Market and industry • De#ne the market or industry. • How large is it and how fast is it growing? - Total market size in dollar volume / Market growth rate. • What trends are important in the industry or marketplace? • How is market and industry segmented (e.g. product/ buyer/ channel/ geographic)?

Targeting segment • De#ne and describe the target segment. • Calculate total market size / total addressable market/ target segment/ market share

Competition • Direct competitors • Indirect competitors

Customers • Who are the traditional customers in this market? • What motivates buying decisions? • In what ways are customers dissatis#ed with current o"erings in the marketplace? • What customer needs are currently unmet by the market?

24 Media Entrepreneur’s Guide to Singapore Editorial: Business plan outline

Marketing and sales strategy Explain how you are going to capture your market. Marketing strategy • Di"erentiation - Product di"erentiation/ Cost leadership (Including comparison matrix) • Positioning - including positioning map or strategy canvas • Tagline – clear, strong, authentic • Marketing execution 4Ps • Product (Elements of the marketing strategy directly related to the product) • Price (Take into account channel • Place (Channels) • Promotion (Focusing on sales strategy) • Initial sales strategy - How to make the #rst sale?

Sustainable Competitive advantage Explain how you will compete when others enter your market, especially larger, better-funded established companies. Try to include as much SCA as possible. • Proprietary intellectual property and IP strategy • Competitive strategies - entry barrier/ network e"ects and externalities/ switching cost

Company products and services • Products/ services key features • How the product works • Product illustration Explain clearly but do not go into too much technical detail.

Team Explain why the members of the management team are the best people to execute your business plan. Emphasize their relevant strengths and experience. Include an experienced Board of Advisors to enhance credibility • A short paragraph on each team member, full name, picture, position, relevant strengths and experience • Board of advisors, with names and biographical data • Strategic Alliances

Operational plan • How to execute on the business plan? (Detailed descriptions of year one activities) • Distribution, service provision, support, production, operating methods, procedure • A timeline of operational milestones

Expansion plan • Product expansion plan with a timeline • Geographical expansion with a timeline and strategy

Financials Business model • How will the business make money? Include a diagram showing the $ow of money and the exchange of goods and services among the various stakeholders. • Sources of revenue/cost drivers

Media Entrepreneur’s Guide to Singapore 25 Editorial: Business plan outline

• Investment required • Critical success factors

Financial projections • 5 years of projected balance sheet, income statement and cash $ow statements in charts or tables To attract VC investment you should be achieving scalability within 5 years.

Valuation • How much is the business worth today? Valuation methods can include: Discounted Cash Flow (DCF), comparables, or VC method Make sure that you can explain your assumptions and how you arrived at the valuation.

Funding required and equity o"ered • How much money do you need to raise? • How much equity will the investor receive? If you are raising less than $1 million, you will likely be seeking investment from Angel investors or specialized seed VCs.

Uses of proceeds • How are you going to use the money you are raising Remember that you will need to use it to fuel growth in the company

Exit Strategy and ROI How will your investors make money and how much will they make? • Calculate the investor’s projected return on investment (ROI) • IPOs (sell to the public) • Trade sale (sell to another company) Choose the most likely strategy for the company Remember that investor IRR is an annual return Present the ROI as a multiple of the original investment

Appendices - Include supporting material in the appendices. Examples: • Detailed team backgrounds and resumes • Patent information • Detailed market research and publicity • Detailed #nancial entries • Customer testimonials and endorsements • Dilution schedule

Business plan writing, structure and design • Include a title page, table of contents and page numbers on each page • Use good grammar, sentence structure and avoid spelling or punctuation errors • Use a clean, simple and legible document design • The business plan should be a maximum of 25 pages long, excluding appendices

26 Media Entrepreneur’s Guide to Singapore Editorial: Business plan questions

Business plan questions Innovation and value proposition 1. What is your product and what is innovative about it? 2. What is the painful problem you are solving for customers? 3. What are the shortfalls of the current solutions? 4. How do you solve this problem and can you quantify your bene#t? 5. How does it enable you to accomplish this?

Market identi#cation and analysis 1. Who is your customer? 2. How big is your market and how fast is it growing? a. Top-down approach b. Bottom-up approach 3. What are trends in your market are favourable for you? a. Technological, social, demographic, regulatory 4. Who are your direct and indirect competitors? 5. How is your market segmented?

Marketing strategy 1. How is your product di"erentiated from your competitors’ product? Use a comparison matrix to illustrate. 2. What is your position in the market? Use a positioning map or Blue Ocean Strategy canvas to illustrate 3. What are your price, place, product, promotion and initial sales plans 4. What is your tagline?

Sustainable competitive advantage 1. How will you compete with small followers? 2. How will you compete with large companies who decide to move into your space? 3. What is your IP strategy? 4. What are your competitive strategies to create barriers to entry?

Business model and #nancial plan 1. Business model a. Revenue sources b. Cost drivers c. Investment required d. Critical success factors 2. Financial projections 3. Valuation 4. Funding required and equity o"ered 5. Use of Proceeds 6. Exit Strategy and ROI

Media Entrepreneur’s Guide to Singapore 27 Editorial: The fundraising process

The fundraising process By Douglas Abrams

Companies have four possible sources of funds: • Equity #nancing • Debt #nancing • Internal #nancing • Public-sector #nancing

Each source has its pros and cons. Companies will often combine several of these sources together, and the mix will change over the company’s lifetime.

In equity #nancing the entrepreneur raises money by selling shares in the business to investors, thereby making them partners. This is the typical form of investment for angel investors and venture capitalists. Angel investors are usually individuals investing their own money, while venture capitalists are professionals investing a fund of other’s money. (This situation is somewhat confused by the fact that some angels have organized into angel funds and some VCs do put some of their own money into their funds.) The bene#ts of equity #nancing are: relatively large amounts are available; it can be used to grow the business rapidly; the equity investor does not have the same rights as debt lenders to the assets of the company in a liquidation. Equity investors earn their returns when the company is sold, so their incentives are to some degree aligned with the entrepreneur’s incentives – they both want the business to succeed. The main drawbacks of equity investment are that it tends to be expensive, and that it entails a reduction in the entrepreneur’s control of the company.

Here is a diagram of a typical multi-stage equity fund-raising process:

Incubators Customers, suppliers, strate- OM corporation gic partners VCs, Banks for F,F&F government VC loans

Founder’s Seed/ Series Mezzanine Pre-IPO IPO Capital Angel A, B, C

There are a few points to note about the process. The #rst source of equity capital for your new business will be your own money (OM) also called founder’s capital. Investing your own money sends a message to investors that you are serious about the venture and that you have some “skin in the game” meaning that if the business fails you will su"er some #nancial pain. I like to point out that the expression is not “leg in the game” which means to me that the entrepreneur should not invest so much of their own capital that if the business fails they will be completely ruined. This level of investment will not lead to sound decision-making by the entrepreneur.

The next step in equity fund-raising is F,F&F or friends, family and fools. The logic here is that if you cannot even convince your friends and family to invest in you, there must be something wrong with your business idea. On the other side of this one, people who are not your friends and family but who invest in your business anyway at this stage are referred to as “fools” because the assumption is that your friends and family are mainly investing in you because they love you. However, these 3rd party investors may not in fact turn out to be fools at all if your

28 Media Entrepreneur’s Guide to Singapore Editorial: The fundraising process business succeeds.

After founder’s capital, the company will go through a series of equity #nancing rounds, which will likely include di"erent investors at each stage, until the company reaches a successful IPO (or trade sale). If all goes well in this process, everyone involved will make a very good return on their equity investment.

Debt #nancing typically comes from banks. The company borrows money from a bank and promises to repay the principal plus interest on an agreed schedule. The bene#ts of debt #nancing are that it is less expensive than equity #nancing and does not usually entail a reduction in control of the company by the entrepreneur. The downsides of debt #nancing are: it is often unavailable for companies without a history of operating results; if available it can be more expensive than other forms of debt; if the company defaults on the loan the lender may seize the company’s assets, including any valuable IP; too heavy debt obligations may deter equity investors who do not want to see their investment used to service or pay o" debt.

Internal #nancing means that the company reinvests its earnings to grow the business. This is sometimes referred to as organic growth. The bene#ts of internal #nancing are that it is less expensive than either debt or equity, it entails no reduction in control of the company by the entrepreneur, and it does not create a liability for the company that can result in insolvency or loss of assets. The main drawback of internal #nancing is that it is usually relatively slow to acquire and may not allow the company to grow as quickly as competitors who are using alternative funding methods. This can be a signi#cant drawback in hot and contested markets.

Public funding comes from government sources. It can take several di"erent forms: Direct equity investment – looks just like private equity investment, but relatively rare.

Matching equity investment – requires a matching private investor. Usually the public equity will be priced the same as the private equity and will be issued on the same terms. Most public-sector equity programs are done on this basis.

Grants – generally these are non-dilutive, meaning that no equity is given in exchange for the grant. Some grants may be done a reimbursement basis for expenses. Reimbursement grants may be disbursed only after the funds are spent or may include some portion disbursed up-front. Some grants may be conditionally repayable; meaning that they must be repaid upon certain pre-agreed conditions being met. The non-dilutive aspects of grants make them very valuable.

Loan guarantees – the government guarantees some or all of a bank loan that the company is taking. This encourages the bank to make riskier loans than they would otherwise make.

Fund-of-fund investments – the government invests in venture funds, which then invest in companies.

The pros and cons of public funding include the same pros and cons of the underlying funding class listed above. The additional bene#ts of public-sector funding are: the government is a credible investor and therefore the company’s credibility can increase after a public-sector investment; public-sector programs may invest for developmental purposes or a mixture of developmental and #nancial purposes, which makes their funding available to a wider range of companies than private sector funds; acquiring government funds can increase the company’s likelihood of raising private sector funding. The additional cons of public-sector funding are: some programs may incur signi#cant administrative overhead; investments may take longer than in the private sector; some programs may be mutually exclusive (“double-dipping”) so you need to carefully consider which program or programs best meet your needs and which ones are mutually exclusive.

Media Entrepreneur’s Guide to Singapore 29 Editorial: The fundraising process

As you can see, each source of funding has its own special bene#ts and challenges. As an entrepreneur, you will need to navigate the #nancial markets as well as navigating your customer market if you want to successfully scale your company.

30 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Venture Capital Funding Equity Funding Sources Venture Capital Funding VC funds with local presence

3V SourceOne Capital 3V SourceOne (3VS1) is a next generation venture capital partnership based in Singapore and Silicon Valley, and has a China team. We specialize in investments in fast-growth companies developing cutting-edge enabling technologies in the communications, IT and the life sciences sectors.

3VS1 was founded in 2000 by Michael Wu, Je!rey Khoo and Kim Seng Tan. The three founding General Partners combine over 60 years of venture capital investment, entrepreneurial and operational experience in fast-growth technology companies.

The partners formerly managed the U.S. and China portfolios of venture funds totaling US$125 million. They also led the organization of a technology fund anchored by reputable "nancial institutions in the US, Singapore and Taiwan.

Singapore O#ce Management Contact Person 1 Coleman Street, #06-05 Michael Ming-Yih Wu, General Partner Kim Seng Tan, General Partner The Adelphi – Silicon Valley – Singapore Singapore 179803 Kim Seng Tan, General Partner Email: [email protected] Tel: (65) 6338 1880 – Singapore Fax: (65) 6338 0086 Je!rey Khoo, General Partner Investment Stage Email: [email protected] – Singapore Growth and late stage

Investment Size ≤US$3M

Portfolio Companies in the Media Sector Include

Payease Corp. Introduced one of the most comprehensive payment services that include mobile payment via cellular phone, internet banking, call centers and Beijing’s fast-growing and vast network of Point of Sales (POS) terminal. Buildfolio Provides leading enterprise wireless Computer Integrated Facility Management (CIFM) solutions to government organizations and private companies worldwide. Ingeo Dedicated to creating business-to-government systems to automate document-related work%ow. The company’s current products and services help local governments and businesses maximize time, money, and personnel resources through digital document technologies. Pico Comms Designs and markets access points based on Bluetooth technology that allow users with Bluetooth handhelds and PDAs to rapidly and securely connect to the LAN and Internet while preserving their handheld battery life, size and weight. Cloudbreak Invented the concept of the “Service Execution System”, a work%ow solution that would automate the mortgage industry with seamless operations at the loan origination stage. The resultant product PushMX provides quantitative e#ciency improvements to mortgage brokers and professionals.

Media Entrepreneur’s Guide to Singapore 31 Equity Funding Sources: Venture Capital Funding

Fortune Venture Management Fortune Venture Management Pte Ltd was established in 1999 to engage in the exciting growth of technopreneur development in ASEAN, Taiwan and China. Fortune Venture Investment Group is a Pan-Asia investment group that has strong partner relationship in Singapore, Taiwan, China, Malaysia and the US. It focuses on investment in the new and emerging sectors; especially, in the Media & Entertainment, Electronics & Semiconductor, Resource & Energy and the Consumer related sectors. The group has invested in over 200 companies and achieved 60 IPOs since 1995. To date, the group has investment in the media content development, platform and component companies including Focus Media, 9You, Macroblock, Longcheer, Reallusion and etc. The group possesses strong domain knowledge and regional business connectivity in its sectors of investment focus. The Fortune group can also be a valuable partner to its investees in strategic cross border business integration in Greater China, ASEAN and the US.

Singapore O!ce Year Founded Mr. Tay KC / Dr. Lau WS 80 Robinson Road #25-01B 1999 Singapore 068898 Investment Stage Tel: (65) 6238 1911 Management Early to Pre-IPO Stage Fax: (65) 6738 1511 Mr. Tay Koon Chuan, President Dr. Lau Wai Shyan, Investment Manager Investment Size US$0.5 – 10M

Contact Person

Portfolio Companies in the Media Sector Include

Focus Media Out-of-home advertising network company (China, Taiwan, Malaysia, Indonesia, etc) www.focusmedia.com.cn 9you Casual game content developer and publisher company (China) www.9you.com Reallusion Online Avatar development tools and platform provider (US/Taiwan) www.reallusion.com Macroblock LED power management fabless design house (Taiwan) www.mblock.com.tw Spreadtrum China 3G TDS-CDMA fabless design house (US/China) www.spreadtrum.com Longcheer China mobile platform design and module manufacturing company (China/Singapore) www.longcheertel.com Ntegrator S.E. Asia communication and network specialist (Singapore) www.ntegrator.com Netgame Vietnam leading casual & MMORPG game publisher (Vietnam) www.livevn.com

32 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Venture Capital Funding

Giza Venture Capital Giza Venture Capital is a pioneer investor in seed and early-stage technology companies, having been established in 1992. Giza currently manages !ve funds totaling about $900 million.

Giza has investment professionals with a wealth of expertise and experience in Communications, Semiconductors, Information Technology, Enterprise Software, Life Sciences, CleanTech, Media, Internet & Entertainment. Giza has invested in 87 companies in the sectors of Communications, Information Technology, Enterprise Software and Life Sciences, with 32 exits.

Giza has a special program called Ofek which is devoted to very early stage investments. Giza makes relatively small investments (generally up to $500K in the form of a convertible loan) in start-ups at the seed or even pre- seed stage.

The initial investment is usually milestone-based and is intended to bring the company to a signi!cant stage of development. Assuming that the milestone goals have been met and the company still remains a good investment, Giza will then look to lead the !rst institutional round.

The Ofek Program also encompasses EIR investments, in which Giza brings experienced entrepreneurs and managers in-house in order to create a new business or to take an active part in a venture that lacks leadership.

Headquarters Singapore O"ce Management Tel Aviv O"ce 391B Orchard Road Yishai Klein, Director (Asia) Ramat Aviv Tower #13-09, Ngee Ann City Tower 40 Einstein St., 12 th #oor Singapore 238874 Contact Person Tel Aviv, 61175 Tel: (65) 6334 8533 Yishai Klein, Director Israel Fax: (65) 6334 3083 Tel: (972) 3 640 2318 Investment Stage Fax: (972) 3 640 2319 Year Founded Seed – Early Stage Website: www.giza.co.il 1992

Portfolio Companies in the Media Sector Include

Actimize Acquired by NICE Systems M-Systems (NASDAQ:FLSH) Prosight Acquired by Primavera Systems DSPG (NASDAQ:DSPG) Olplus Acquired by Intel Butter#y Acquired by TI Cyota Acquired by RSA DSPC Acquired by Intel X Technologies Acquired by Guidant Libit Acquired by TI Precise NASDAQ:PRSE, acquired by Veritas Scorpio Acquired by US Robotics Oridion (SWX:ORIDN) Telegate Acquired by Terayon Zoran (NASDAQ:ZRAN)

Media Entrepreneur’s Guide to Singapore 33 Equity Funding Sources: Venture Capital Funding

iGlobe Group iGlobe is a leading Asia Paci!c Venture Capital !rm, headquartered in Singapore, with presence in Silicon Valley, Shanghai and Auckland.

The team at iGlobe comprises seasoned investment professionals with strong track records and extensive cross border operational experience. Our team’s strength is based on experience in every aspect of investing and company building, drawing on backgrounds in technology start-ups, Fortune 500 companies, investment !rms, banks and government agencies. Our expertise covers an array of disciplines including operating management, international business, engineering, marketing, law, advisory and venture investing.

We believe our global scope and knowledge provides an exceptional edge. We evaluate investment opportunities based on a thorough due diligence process and international “best of breed” criteria and facilitate the worldwide expansion of portfolio companies through our substantial knowledge of the major world regions in which we operate and our far-reaching network of investors, industry experts and other advisors.

Our strategy is to invest in technology-driven companies led by passionate, experienced management that have globally scalable business models. iGlobe’s proven hands-on approach and experience through multiple economic cycles, allows us to help portfolio companies build superior global market value and deliver superior returns to our investors.

Singapore O"ce Management US$0.5 – 5M 435 Orchard Road, #19-03 SooBoon Koh, Founder & Managing Wisma Atria Partner Investment Stage Singapore 238877 Doris Yee, General Partner Across all stages Tel: (65) 6836 9119 Frankie Tan, Venture Partner Fax: (65) 6732 9787 Joe Zaelit, Venture Partner Website: www.iglobepartners.com Jean-Philippe Saraut, Venture Partner Hu Xiao-Bao, Venture Partner Silicon Valley O"ce 5201 Great America Parkway, Contact Person Suite 320 SooBoon Koh, Founder & Managing Santa Clara, CA 95054 Partner Tel: 408 982 2126 Doris Yee, General Partner Fax: 408 982 2129 Investment Size

34 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Venture Capital Funding

Innosight Ventures Innosight Ventures is a unique venture capital !rm headquartered in Singapore. We leverage the concepts of our founder, Harvard Business School Professor Clayton Christensen, and the experience of our management team to identify, fund and incubate ventures that !t the patterns of Disruptive Innovation. The combination of these activities and our presence in Asia gives us the ability to participate in value-creating opportunities across the global landscape.

We are currently focused on two main areas: 1. Opportunities that leverage the principles of Disruptive Innovation and have the potential for signi!cant !nancial return 2. Opportunities to create ‘for-pro!t’ enterprises in emerging markets at “the bottom of the economic pyramid”

Singapore O"ce Contact Person 9 Tan Quee Lan Street Pete Bonee, Partner #02-02 TQL Suites US O"ce Singapore 188098 1501 Saint Paul St., Tel: (65) 6884 9375 Unit 115 Investment Size Fax: (65) 6884 9376 Baltimore Typically S$ 200K to S$ 500K MD 21202 Email: [email protected] USA Management . Clayton Christensen, Co-Founder Website: Year Founded www.innosightventures.com 2006 Brad Gambill, Managing Director

Portfolio Companies in the Media Sector Include COGSecure Versonic Guaranteach

Media Entrepreneur’s Guide to Singapore 35 Equity Funding Sources: Venture Capital Funding

JAFCO Asia Since its establishment in 1990, JAFCO Asia has grown to become a leading brand in the venture capital industry in the Asia Paci!c region. Currently, JAFCO Asia has o"ces in Singapore, Hong Kong, Taipei, Seoul and Beijing.

With more than US$1.2 billion funds under management in aggregate, JAFCO Asia’s experienced investment team has invested in over 368 companies in 13 countries (Hong Kong, China, Taiwan, South Korea, Singapore, Malaysia, Indonesia, Thailand, Philippines, Australia, India, Israel and Vietnam) and divested more than 260 companies of which at least 86 have been publicly listed.

Since 2000, JAFCO Asia has shifted its focus entirely to technology related investments and is now one of the pre- eminent venture capital technology investors in the region. We believe that our existing portfolio in the Asia Paci!c region o#ers our portfolio companies signi!cant potential for synergistic partnerships. Furthermore, we o#er our portfolio companies access to a dedicated in-house business development team, which has established deep relationships over more than ten years with large technology companies, particularly in Japan but also elsewhere. This team helps our portfolio companies create long-term strategic partnerships and customer relationships, and potentially the opportunity to be acquired.

Singapore O"ce Seoul O"ce Management 6 Battery Road #42-01 18/F, Korea City Air Tower Hiroshi Yamada, President & CEO Singapore 049909 159-9 Samseong-dong, Tel : (65) 6224 6383 Gangnam-gu Contact Person Website: www.jafcoasia.com Seoul, Korea 135-973 Murli Ravi, Senior Investment Manager Tel : (822) 2016 6100 Email: [email protected] Hong Kong O"ce [email protected] 30/F, Two Int’l Finance Centre Investment Size 8 Finance St., Central, Hong Kong Beijing O"ce US$2 – 5M Tel: (852) 2536 1960 Room 801, Beijing Fortune Bldg [email protected] No. 5 Dong San Huan Bei Lu Investment Stage Chao Yang District, Beijing, China Early stage, growth, pre-IPO Taipei O"ce Tel : (8610) 6590 9730 14/F, 109 Min-Sheng E. Rd. Sec.3, Taipei, [email protected] Taiwan R.O.C. Tel : (886) 2 2719 0182 Year Founded [email protected] 1990

Portfolio Companies in the Media Sector Include A8 Digital Music Holdings (listed on HKSE), Allot (listed on NASDAQ), Avega Systems (privately held), Cgen Digital Media (listed on NASDAQ), China GrenTech Holdings (listed on NASDAQ), China Wireless (listed on HKSE), CT Electronics (acquired by Makus, Inc.), Integrant Technologies (acquired by Analog Devices, Inc.), InterChina Network Software (acquired by Yahoo!), Pentamicro (listed on KOSDAQ), Pollex Mobile (acquired by MediaTek, Inc.), Pixelplus (listed on NASDAQ), RPO, Inc (privately held), Telsima (privately held)

36 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Venture Capital Funding

JAIC Asia Capital Pte Ltd JAIC Asia Capital Pte Ltd (JAC), a wholly-owned entity of Japan Asia Investment Co., Ltd., is a Singapore-based venture capital !rm dedicated to investing in promising Asian SMEs. With a quick turnaround time and strong networks in Asia, JAC supports promising ventures to develop new markets, technology or services globally, in order to provide lucrative returns for its investors and investees. Our strength is a wide network within Asia and a capability to coordinate business between Asian countries and Japan besides investment.

Singapore O"ce Year Founded Investment Stage 50 Ra#es Place 1995 Startup / Early Stage #24-03 Singapore Land Tower Expansion / Development Singapore 048623 Management Mezzanine / Bridge Financing Tel: (65) 6557 0599 Ichiro Kawada, President Fax: (65) 6557 0332 Website: www.jaic.com.sg Contact Person Gary Ong, Investment Manager Japan O"ce Akasaka Eight-One Bldg Investment Size 2-13-5 Nagata-cho US$1 – 5M Chiyoda-ku, Tokyo 100-8972 Japan Tel: (81) 3 3504 8518 Fax: (81) 3 3504 8511

Media Entrepreneur’s Guide to Singapore 37 Equity Funding Sources: Venture Capital Funding

Japan Venture Partners Japan Venture Partners is a Tokyo-based !rm with o"ces covering Southeast Asia and Silicon Valley. We provide venture capital and growth capital to promising companies that are expanding across multiple Asian markets. We also bring expertise in cross-border and in-country management so that our portfolio companies can bene!t from our industry relationships and know-how in Japan, India, Singapore, and the U.S.

Our business model is di#erent than many other private investment !rms. We select investments based on how we can help our portfolio companies execute their business plan in the Asian markets. So we bring capital, expertise, and access to key relationships to our investments.

Our team has a broad business background covering technology, consumer products, and !nancial services. We have longstanding relationships with operating companies in our markets that are looking for exciting, new products to license, distribute, or as partners. Our professionals also bring business development, sales, marketing, technical, !nancial, and country-management experience to help our portfolio companies execute their domestic and overseas business plans.

Singapore O"ce Silicon Valley O"ce KT Koh, Director (Singapore) KT Koh 1840 Gateway Drive, 2nd Floor Tel: (65) 9818 9288 San Mateo, CA 94404 USA Investment Size Tel: 650-508-0126 Up to $250,000 Japan O"ce Fax: 650-654-1245 Kioicho WITH Bldg. 4F, Investment Stage 3-32 Kioicho Chiyoda-ku, Tokyo Management Seed 102-0094 Japan Danforth Thomas, Partner (Japan) Tel: (81) 3 3239 2906 Roger Brook, Partner (USA) Fax: (81) 3 3239 2848 Takeshi Itoh, Partner (Japan) Website: www.japanvp.com Makoto Hirayama, Director (Tokyo) Aiko Fushida, Regional Director (USA) Sandeep Casi, Director (Japan) KT Koh, Director (Singapore)

Contact Person Portfolio Companies in the Media Sector Include Endtone Megisto Systems envIO Networks PacketVideo Geodesic Pulse Mobile July Systems Sonim Technologies

38 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Venture Capital Funding

McLean Watson Capital McLean Watson Capital is a leading Canadian-based venture capital !rm dedicated to funding high-growth entrepreneurial ventures and helping them become industry leaders. Our purpose is to combine discipline, experience and global vision to drive business success. Since 1992, McLean Watson has continually grown, evolving from its Asian trading roots to become a leading venture capital !rm that is proud to put our resources and reputation behind high-growth, high-potential enterprises in North America and around the world.

Diverse Management Expertise: We are interested in you, and in how you run your business. We work with entrepreneurial management teams that bring the relevant skills, vision and energy required to succeed. You need to be resourceful, disciplined and motivated.

The Right Attitude: Experience has shown that two more things are required for success: a desire to work with partners; and a good sense of humour.

Product Characteristics: We look for companies with Best of Breed patented or proprietary products that are distinct from competitors.

Clear Identi!able Business Models: Our investors want to know how your business is going to make money or generate material value.

Singapore O"ce Management Year Founded 240 Macpherson Road Stuart Angus, Partner 1992 #05-04/05 Pines Industrial Bldg Zacchaeus Boon, Partner Singapore 348574 John Stewart, Partner Investment Size Loudon Owen, Managing Partner C$0.5 – 5M Toronto O"ce John Eckert, Managing Partner 1 First Canadian Place, Suite 2810 Investment Stage Box 129 Toronto, Ontario Contact Person Expansion / Development M5X 1A4, Canada Loudon Owen, Managing Partner Startup / Early Stage Tel: (1) 416 363 2000 Zacchaues Boon, Partner www.mcleanwatson.interface.ca

Portfolio Companies in the Media Sector Include

Fortiva Email archiving solutions for compliance and legal discovery needs. Sold to Proofpoint, Inc. Databeacon Data publishing analysis and reporting solutions. Sold to Cognos Inc. (TSX:COGN) Lavalife Personals - #1 in World for Voice, #3 on Internet. Sold to MemberWorks, then taken private in PE buyout (NASDAQ:MRBS) Sitebrand Content management solutions for website management. Listed on Toronto Venture Exchange (TSX-V) Savi Logistics software and services. Sold to Lockheed Martin (NYSE:LMT) Flonetwork Manages and analyses high volume e-mail marketing campaigns. Sold to DoubleClick, then Google (NASDAQ:GOOG)

Media Entrepreneur’s Guide to Singapore 39 Equity Funding Sources: Venture Capital Funding

OWW Capital Partners Established in 1991, OWW Capital Partners (OWW) invests in service providers in infocomm technology, logistics, education/training, healthcare, "nancial services and consumer services sectors. OWW has 15 years of investment experience in Greater China and South East Asia and currently has over US$140 million under management.

Singapore O#ce Year Founded Investment Size 65 Chulia Street 1991 US$ 5-10 million #39-01 OCBC Centre Singapore 049513 Management Investment Stage Tel: (65) 6538 1220 Tan Bien Chuan, Managing Director Growth, expansion Fax: (65) 6538 0544 Richard Choong, Executive Director Wendy Ng, Vice President Shanghai O#ce Lee Mun Chung, Vice President Room 1808, Jing An China Tower No. 1701, West Beijing Road Contact Person Shanghai 200040, PRC Tan Bien Chuan, Managing Director Tel: (86) 21 5150 8802 Fax: (86) 21 5150 8801

Portfolio Companies in the Media Sector Include

BuzzCity A provider of mobile phone entertainment, communication and information services using leading mobile communication technologies Catcha South East Asia portal site focusing on search engine categorized database, content channels and community activities. O!ine magazine publication and event organization have been added to the business subsequently eGuide Provides an Internet trade directory service Pixelmetrix Develops real-time integrated monitoring systems that address the digital video broadcasting market

40 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Venture Capital Funding

Peacock Equity Fund Peacock Equity is a $250 million global fund founded by GE Commercial Finance - Media, Communications & Entertainment and NBC Universal. The joint venture, established in April 2007, focuses on companies developing technologies, platforms or business models with a strong, strategic !t to NBC Universal.

Industry concentrations include: • Advertising • Digital Content and Communities • Online and mobile games • Media and entertainment related technologies • Wireless/Online

The Peacock Equity team represents !nancing specialists with deep industry knowledge and the ability to make

Singapore O"ce Lauren Liang, Executive Director Pre-IPO 72 Anson Road, Level 6 Anson House Investment Size Singapore 079911 $2MM - $25MM

Management Lauren Liang, Executive Director Investment Stage Contact Person Early (Series A/B) through Growth /

Portfolio Companies in the Media Sector Include

Bigpoint Browser-based MMOPGs TRION Publisher and developer of MMORPGs 4INFO Content and advertising delivery via SMS IGA Leading in-game advertising company

Media Entrepreneur’s Guide to Singapore 41 Equity Funding Sources: Venture Capital Funding

SBI Ven Capital SBI Ven Capital is an Asia-focus venture capital / private equity !rm. We provide growth capital to promising companies in the mid-market sector in Asia, primarily China, Taiwan, India, Vietnam, Singapore, Malaysia and Thailand.

SBI Ven Capital is the venture capital / private equity !rm of the SBI Group, a listed !nancial services group in Japan. SBI Group currently manages US$ 3.4 billion in private equity funds. To date, SBI Group has invested in more than 500 companies.

With our base in Japan, the SBI Group has extensive network in the key markets in Asia Paci!c. In China, SBI has established several country-focus funds via separate joint-ventures with Temasek Holdings, Tsinghua Holdings and Beida Jade Bird. In India, SBI has established a country-focus fund with State Bank of India.

In addition to providing growth capital, SBI Ven Capital actively creates shareholder value by leveraging on our strategic resources viz.:

Regional Reach: With our base in Japan and extensive network in key Asian markets, we actively support our portfolio companies in these markets, thus creating successful truly pan-Asian businesses.

Infrastructure: We actively create synergies through collaboration, knowledge transfer and business alliances with extensive base of 500 portfolio companies and numerous successful operating companies within the SBI stable.

Sector Expertise: We have been investing successfully in the IT and biotechnology sectors over the past 10 years, attesting to our deep experience and insight in these sectors.

Financial Value-Add: SBI Group, as a !nancial services group with investment banking expertise and equity distribution capability, constantly adds value to our portfolio companies from a truly unique !nancial perspective.

Singapore O"ce Year Founded Investment Size 2 Shenton Way, 2007 US$1 – 10M #04-03 SGX Centre 1, Singapore 068804 Management Investment Stage Tel: (65) 6536 6123 Hideyuki Katsuchi, Director Expansion – Pre-IPO stage Fax: (65) 6536 6983 Email: [email protected] Contact Person Website: www.sbivencapital.com.sg Hideyuki Katsuchi, Director Shannon Thong, Vice President

42 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Venture Capital Funding

Sirius Sirius is a boutique venture capital and !nance advisory !rm, focused on small and medium-sized companies in Singapore and overseas.

What We Do (1) Invest - Sirius is always on the lookout for investment opportunities amongst small and medium-sized companies. Unlike the larger venture capitalists, we are able to tailor our investment amount to t h e needs and size of the company. (2) Consult - What sets Sirius apart from many other venture capitalists is our ability to act as your strategic partner – to help you develop and enhance your business strategy to achieve your company’s maximum potential. To this end, we provide a wide range of consultancy including (a) Business planning and evaluation; (b) IPO consulting; (c) Financial evaluation and forecasting; and (d) Corporate development. (3) Train - We specialise in training on Entrepreneurial Finance, Corporate Venturing, Venture Capital and Start Up, and SME Financing. Sirius is able to provide customised workshops and seminars that are tailored to suit your organisation’s needs.

Investment Funds (1) Sirius Angel Fund - Sirius Angel Fund is a S$20 million fund, in collaboration with SPRING Singapore (www. spring.gov.sg) under the latter’s Business Angels Scheme, that invests in high-growth, innovative and early-stage companies. Under the Scheme, every investment made by this Fund will be matched dollar-for-dollar by SPRING, up to a maximum of S$1 million per company, and a maximum of S$10 million for the entire Fund.

The fund invests only in early-stage companies that are already generating sales. For companies which have an operating history of less than 3 years, the maximum investment amount is S$1 million. For companies with a 3- to 5-year track record, the maximum investment amount is S$2 million. For more information on our Sirius Angel Fund, please e-mail us at [email protected].

(2) Sirius SME Growth Partners I Fund - This is a S$30 million investment fund targeting Singapore-based small and medium enterprises (SMEs) at the growth and expansion stage, who are looking for capital to !nance their business expansion. The Fund’s target investment size is S$2 million to S$3 million per investment, with an average anticipated holding period of 3 years from the initial investment. For more information on our Sirius SME Fund, please e-mail us at [email protected].

Singapore O"ce Chin Chao 30 Cecil Street Email: [email protected] Prudential Tower Level 15 Singapore 049712 Investment Size Tel: (65) 6232 2742 S$0 – 3M Email: [email protected] Website: www.sirius.com.sg Investment Stage Contact Person Expansion / Development

Media Entrepreneur’s Guide to Singapore 43 Equity Funding Sources: Venture Capital Funding

SkyVen Asset Management The SkyVen Group was founded by former corporate attorney and banker Peter Tan and serial entrepreneur Chew Ghim Bok in 2000. Together, our founders have an extensive history of successful entrepreneurship and professional venture capital, private equity and investing experience at all stages and in numerous sectors over many business cycles. Our team has been involved in numerous Initial Public O!erings as investors, advisors, management and owners.

Our core business is private equity management, focusing on late stage private equity investments in the Asia Paci"c region, particularly China. Our investment focus areas are wide ranging, including information technology, energy, environmental technology, manufacturing, service providers, consumer goods, food, retail products and healthcare.

We help late stage private companies expand their businesses and guide them in their restructuring so that they can tap the public markets. We have developed strong experience and networks in our various areas of expertise and our track record speaks for itself: we have exited pro"tably from virtually all our previous investments through public listings and trade sales and thus have consistently outperformed the market by a substantial margin since our "rm’s inception.

Singapore O#ce Peter Tan, Managing Partner 2 Alexandra Road Chew Ghim Bok, Director #06-02 Delta House Singapore 159919 Investment Size Tel: (65) 6371 7088 / (65) 6371 7084 S$0.5 – 5M Fax: (65) 6272 0602 E-mail: [email protected] Investment Stage Management Late, Growth, Mezzanine

Portfolio Companies in the Media Sector Include Asia Media Digital media systems and network solutions provider for telecommunication companies, mobile Systems and media companies, service providers, government agencies and other corporations and institutions

44 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Venture Capital Funding

Tembusu Partners Launched on 5th January 2007, the Tembusu Growth Fund is a Singapore-based private equity fund focusing on growth-stage companies in core industry sectors, such as technology services, clean energy, base metals reprocessing and engineering services within emerging Asia, comprising China, India and Southeast Asia with Singapore as the hub.

The Fund invests in such entrepreneur-driven companies that exhibit strong growth potential through scalability to command signi!cant market share, ownership of proprietary rights, clear exit strategies, and more importantly, the ability of the companies to bene!t from the Tembusu Team’s expertise and experience in the !eld.

Tembusu was conceptualized to generate superior returns for investors by leveraging on Singapore’s unique strengths and capabilities. Over a 5 year period, the Fund, with a fund size of S$100 million, aims to generate superior post-transaction value in excess of 25% per annum through a conservative investment philosophy that strives for consistency with a disciplined investment process to generate the returns.

Singapore O"ce 155 Queen Street Emily Goh, Director (Investor Relations 151 Chin Swee Road Auckland, New Zealand & Portfolio Management) #04-08 Manhattan House Tel: (64) 21 2828 988 Singapore 169876 Investment Size Tel: (65) 6238 7422 London O"ce S$5 – 10M Fax: (65) 6238 7237 155 Queen Street Email: Auckland, New Zealand Investment Stage [email protected] Tel: (64) 21 2828 988 Growth/Mezzanine/ Restructuring - 90% China O"ce Year Founded PIPES - 5% Unit 102, Level 1 Block B 2006 Early Stage - 5% Beijing Risheng Center Yong An Dong Li, Jian Guo Men Wai Management Street, Chaoyang District Andy Lim, Chairman & CIO Beiijng, China Tan Kim Seng, Co-founder & Senior Tel: (86) 1351 1056 187 Advisor Peter Lai, Managing Director Loo Cheng Guan, Managing Director Australia/ New Zealand O"ce Contact Person

Portfolio Companies in the Media Sector Include

In!nite Frameworks Singapore’s First Post-Production House with Full HD Capability www.frameworks.com.sg

Media Entrepreneur’s Guide to Singapore 45 Equity Funding Sources: Venture Capital Funding

UOB Venture Management UOB Venture Management Private Limited (UOBVM) is a wholly owned subsidiary of United Overseas Bank (UOB) Limited, one of Asia’s leading international banking and !nancial groups. Founded in 1935 and listed on the Singapore Exchange since 1970, UOB has 385 o"ces in 18 countries. As at 31 December 2004, the UOB Group had total assets of S$134.9 billion and shareholders’ funds of S$13.4 billion.

Established in 1992, UOBVM manages a family of funds, providing !nancing to unlisted companies through direct equity investment. Our private equity investment activities span Asia Paci!c, and the United States of America. The !rm currently manages more than S$450 million in committed capital from institutional and individual investors.

The Unique Value that We Bring As a bank-backed venture capital !rm, we possess unique strength. We have strong understanding of !nancial discipline and risk management. We leverage on UOB’s international network of group o"ces as well as its worldwide partners and clients. This international network brings instant credibility, stability and strategic value. In addition, we also leverage on our joint venture and strategic partners in China and other countries to strengthen deal #ow and enhance our value-add to our portfolio companies and partners.

Because we are part of a leading banking and !nancial group, we can draw upon the expertise and services of our sister divisions. Of particular value to our portfolio companies are corporate banking, debt !nancing, corporate !nance and security brokerage.

We pride ourselves as a venture capital !rm that provides linkages among portfolio companies and strategic partners in the Silicon Valley, Greater China and Southeast Asia. We can provide assistance in market access, strategic alliances and operational presence across these geographical regions.

Singapore O"ce Management 80 Ra$es Place Seah Kian Wee, Managing Director #30-20 UOB Plaza 2 Aw Chye Huat, Executive Director Singapore 048624 Mark Yeo, Executive Director Tel: (65) 6539 3044 Fax: (65) 6538 2569 Contact Person Email: [email protected] Aw Chye Huat, Executive Director (65) 6539 9045 Shanghai O"ce [email protected] Room 3307, United Plaza, 1468 Nanjing Road West, Investment Size Shanghai, China 200040 US$3 – 5M Tel: (86) 21 6247 6228 Fax: (86) 21 6289 8817 Investment Stage Email: [email protected] Expansion, pre-IPO stage

46 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Venture Capital Funding

Upstream Ventures Upstream Ventures focuses on early-stage venture creation by providing funding, expertise and networks to emerging companies across Singapore, India and China.

We back outstanding teams that have the vision and discipline to build high-growth enterprises targeting Asian and global markets in sectors such as Internet, IDM (interactive digital media), mobile & wireless, security & biometrics, and semiconductors.

Our operationally-experienced team engages early in the life of a company where we can most e!ectively accelerate growth. We build strong and reliable management teams, work closely with our companies to develop and execute strategies, and provide access to key players, markets and capital through our strong industrial and "nancial networks.

Upstream Ventures typically targets Singapore-based early stage companies with signi"cant regional market opportunities. Singapore is the ideal test-bed for innovation, o!ering startups many advantages over neighbouring countries, including: (a) Advanced research facilities, universities & incubators; (b) Strong IP protection; (c) Sector- speci"c funding schemes & investment tax incentives; (d) World-class infrastructure; (e) E#cient legal system; and (f) High standards of corporate governance & transparency.

In order to evolve into great growth companies, startups must develop sustainable recurring revenue streams and demonstrate scalability quickly. Upstream accelerates access to new markets and capital by leveraging our networks in Europe, the US and in the region’s larger markets such as India and China.

Upstream Ventures assumes the role of lead investor in early stage companies, typically investing up to a maximum of $3M per company as part of a Startup or Series A round of funding. We are also keen to co-invest with other investors to ensure the company raises adequate funding to meet its growth needs. We continuously work with portfolio companies to optimize their "nancial strategy and strive to maintain our role as lead investor as the company moves toward subsequent rounds of funding.

Singapore O#ce Year Founded Contact Person 15 Queen Street #03-05 2003 Pierre Hennes, Partner Singapore 188537 Republic of Singapore Management Investment Size Tel: (65) 6536 7331 Carmelo Pistorio, Up to S$3M Fax: (65) 6536 7301 Managing Partner [email protected] Pierre Hennes, Partner Investment Stage www.upstreamventures.com Startup / Early Stage

Portfolio Companies in the Media Sector Include

Mikoishi Games studio XiD Technologies Security & biometrics: Face www. www.mikoishi.com xidtech.com recognition Singular ID Anti-counterfeit systems Tagit Mobile transaction platform www.singular-id.com (acquired by Bilcare) www.tagitmobile.com Comlent RFIC design house www.comlent.com Media Entrepreneur’s Guide to Singapore 47 Equity Funding Sources: Venture Capital Funding

Vertex Management (II) VM(II), incorporated in Singapore in 1993, is a subsidiary of Vertex Venture Holdings Ltd, which in turn is a wholly owned subsidiary of Temasek Holdings (Private) Limited. VM(II) as part of Vertex Group has more than 20 years experience in venture capital and private equity fund management. Vertex Group with headquarter in Singapore, has a network of regional o!ces in the United States, Shanghai, Beijing, Hong Kong and Israel. Since 1988, Vertex Group has launched a total of 13 direct funds with an aggregate fund size in excess of US$1 billion. These funds have invested in more than 300 companies in the United States, Europe, Israel and Asia from seed to late stage of "nancing in various industries including communications, software, internet, electronics, semiconductor and life science.

Singapore O!ce California O!ce Year Founded 250 North Bridge Road 210A Twin Dolphin Drive 1993 #05-01, Ra#es City Tower Redwood City, CA 94065 Singapore 179101 United States Management Tel: (65) 68288088 Tel: (1) 650-508-2400 Mr Chua Kee Lock, President & CEO Fax: (65) 68288090 Fax: (1) 650-591-5926 Mr Chua Joo Hock, Managing Director Web Site : www.vertexmgt.com & CIO E-mail : [email protected] Israel O!ce 1 Ha’Shikma Street Contact Person Shanghai O!ce P.O.B. 89 Mr Chua Kee Lock, President & CEO Unit 1202, A Building, Savyon 56530 Golden Eagle Mansion Israel Investment Size No.1518 Minsheng Road, Pudong New Tel: (972) 3-737-8888 US$1 – 10M Area Fax: (972) 3-737-8889 Shanghai 200135 Investment Stage China (PRC) Beijing O!ce Start-up/Early Stage, Expansion/ Tel: (86) 21-6104-2718 Unit 2115, Level 21 Development, Mezzanine/Bridge Fax: (86) 21-6104-2710 China World Tower 1, No.1 Jian Guo Finance Men Wai Avenue Hong Kong O!ce Beijing 100004 Unit 1803-18/F., Two Chinachem China (PRC) Exchange Square Tel: (86) 10-6505-9555 338 King’s Road, North Point Fax: (86) 10-6505-2555 Hong Kong Tel: (852) 2523-6133 Fax: (852) 2523-7233

48 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Venture Capital Funding

Vickers Venture Partners Vickers Venture Partners is a leading venture capital !rm focusing on venture capital investments in Asia. Building on the track record and stellar investment performance of its partners, which include hits such as Baidu.com, Inc (NASDAQ: BIDU), Focus Media Holding Ltd (NASDAQ: FMCN), Kongzhong Corp (NASDAQ: KONG) and Cambridge Real Estate Investment Trust (SGX: CREIT), the core management team has been working together since 2005.

With o"ces in Singapore & Shanghai, VVF manages 3 funds and proprietary capital with the goal of creating long term value for investors by investing in and building a stable of great companies focused primarily on the Asia Paci!c market.

Singapore O"ce Year Founded Investment Size 7 Temasek Boulevard 2004 US$1 – 8M #26-01, Suntec Tower One Singapore 038987 Management Investment Stage Tel: (65) 6339 0338 Dr Finian Tan, Chairman Early – Growth Stage Fax: (65) 6339 3380 Dr Je#rey Chi, Vice Chairman Email: info@vickers!nancial.com Raymond Kong, Managing Director Website: Damian Tan, Venture Partner www.vickerscapitalgroup.com Vincent Xu, Venture Partner

Shanghai O"ce Contact Person 1266 Nanjing West Road, Dr. Je#rey Chi, Vice Chairman Suite 1202 Plaza 66 Shanghai 200040

Portfolio Companies in the Media Sector Include AFC Network Pioneer regional Asian food TV channel, and is Asia’s only pan-regional channel Benchmark Online Knowledge delivery: eLearning, content development and consultancy RealTime Gaming Asia Master licensor of standard random-number-generated (RNG) casino games in the Asian region. Also o#ers an Asia-speci!c sports book platform and Live Dealer Gaming Mobinex Developing Operating and managing avatar-based interactive media solutions in the US and China. Its $agship product, ‘!x8’, enables users to animate their avatars real- time using a webcam iPartment Online social networking portal revolving around virtual apartments

Media Entrepreneur’s Guide to Singapore 49 Equity Funding Sources: Venture Capital Funding

Walden International Walden International is an international venture capital organisation with total funds under management in excess of US$1.9 billion. Walden provides seed and start-up funds for emerging growth companies, as well as capital for expansion !nancing and acquisitions. Walden has a US - Asia footprint with 9 o"ces in the United States, Singapore, Taiwan, Malaysia, India, Hong Kong and China.

Walden Singapore was established in 1988. Over the past 20 years, Walden has been an active player in the Singapore venture capital scene. Walden has invested in about 60 Singapore companies, including several spin- o#s from local universities and research institutes. Notable investments include Creative Technology, Frontline Technologies (acquired by British Telecom), MediaRing and JobStreet. Areas of special interest to Walden include Digital Media and Internet, Electronics, Semiconductors, Software and IT Services, Communications and Clean Tech sectors.

Singapore O"ce Management Year Founded Great World City Loo Hock Voon, Manging Director 1988 West Tower (Ms) Kris Leong, Vice President 1 Kim Seng Promenade, #14-07 (Ms) Yong Soo Ping, Vice President Investment Size Singapore 237994 S$1 – 5M Tel: (65) 6272-3250 Contact Person Fax: (65) 6272-3251 (Ms) Kris Leong, Vice President Investment Stage Email: [email protected] (Ms) Yong Soo Ping, Vice President Early through expansion stage

Portfolio Companies in the Media Sector Include

5173.com Virtual item trading platform in China www.5173.com Com2uS Mobile game developer and publisher www.com2us.com Liba Home and lifestyle online community www.liba.com Muvee Automatic video editing for PCs, digital cameras, mobile phones, photo kiosks and social www.muvee.com networking sites Ndoors Developer and publisher of MMORPG and casual online games www.ndoors.com Rock Mobile Digital music service including ring back tones www.rockmobile.com Shanghai Storm Developer and publisher of online games in China www.shstorm.com Sina Internet portal www.sina.com Sprice Online travel comparison search company www.sprice.com

50 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Venture Capital Funding

S$20 million NRF Early-Stage Venture Funds In July 2008, The Singapore Government’s National Research Foundation (NRF) announced the awarding of S$10 million to six new venture funds under NRF’s Early Stage Venture Funding Scheme. Of these funds, four are expected to consider investments in interactive and digital media companies (the remaining two funds are focused on the bio-medical and nano-tech sectors).

The four funds which may make IDM-related investments are: • Extream Ventures • Ra!es Venture Partners • Tamarix Capital • Walden International

The NRF funds may begin investing by Q2 2009. Refer to the NRF section under Public Sector Funding and Development Schemes to "nd our more about the NRF Early-Stage Venture Funds.

Media Entrepreneur’s Guide to Singapore 51 Equity Funding Sources: Venture Capital Funding International section: International VC funds looking at deals in Singapore

Ariadne Capital Ariadne Capital is an investment and advisory !rm that syndicates investments in early stage private !rms, and advises later stage private and public companies. We provide our portfolio companies access to our network of industry executives and investors, hands-on management and Board level assistance to implement strategic, operational and !nancial plans. We help our companies to build momentum by accessing capital, securing executives, building customer bases, advising them on their ‘go to market’ strategies, and positioning themselves for exit.

We are backed by 50 entrepreneurs, the founders of some of the most successful !rms in the world, with the aim of building the market leading companies of the 21st Century. These entrepreneurs invest capital, time and their networks into the next generation of entrepreneurs.

Headquartered in London, our network of executives, investors, advisors and partners extends from Asia to North America to Europe, giving us global reach.

UK O"ce Management Investment Size 6th Floor, 68 Lombard Street Julie Meyer, CEO £2million - £10million London EC3V 9LJ UK Tel. (44) (0)20 8382 3920 Contact Person Investment Stage Fax. (44) (0)20 8382 3921 Lisa Wilson, Manager, Marketing Early stage – Angel and Series A rounds Email: Communications [email protected]

Portfolio Companies in the Media Sector Include

Thebizmo Microstore widget that turns the consumer into the tastemaker and retailer www.thebizmo.com Cellectivity Leading company in the design, production and distribution of mobile gambling gaming www.cellectivity.com applications Digital Stores Online retailer and leading supplier of end-to-end e-commerce and ful!lment services for www. digitalstores.co.uk high-pro!le personality and character brands Enrich Social Productions New multi-channel format and technology company focused on the convergence of www.enrichproductions.net television, online and mobile Independent IP The next generation in digital music distribution technology, connecting the music www.independentip.com industry e"ciently and e#ectively Lickerish High quality image and video agency that syndicates images for some of the world’s best www. lickerishltd.com photographers as well as publishing companies Real Life (pre-launch) Reality-based virtual world where young people can test drive their lives SliceThePie Online !nancing platform for music that enables artists to work together with their fans to www. slicethepie.com take control of their artistic and !nancial destiny Spinvox Voice powered text – the world leader in voice-to-screen technology www.spinvox.com Rok Entertainment Group Leading, global, mobile entertainment company specializing in the development and www.rokent.com deployment of innovative mobile technologies, services and applications

52 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Venture Capital Funding

DTA Capital In the early days, DTA Capital Partners Sdn. Bhd. (DTA) specialized in advising, structuring and procuring equity or equity-linked !nance schemes for Malaysian-based companies. In November 2001, the company, through its subsidiary, DTA Ventures Management Sdn Bhd (DTAV), secured an Information & Communication Technology Fund (Fund 1) worth MYR25 million from Malaysia Venture Capital Management Bhd (also known as ‘mavcap’). Since then, the Group has taken a strategic position to focus on venture capital after recognizing the gap in funding younger companies in Malaysia. Subsequently in 2008, the Group secured another fund (Fund 2) worth MYR30 million from mavcap and some private investors. This fund’s thrust is on ICT and high growth industries with focus on companies at expansion stage. The Group now comprises the holding company, DTA, and two wholly owned subsidiaries: DTAV and DTAV II.

Our present ICT Fund portfolio already consists of young companies operating in BPO, mobile messaging, e- learning, operating systems, hardware & software transmission equipment, wireless security, etc.

Strategy: The mission of the Fund Company is to identify, invest and nurture Malaysian (and a limited number of foreign) businesses operating in the technology space mentioned before, so that they will contribute to the overall economic growth of the country.

At least 30% of the fund will be utilized to !nance start-up investments while the balance will be allocated to emerging companies that are at least some initial track records in commercialization. Investment focus is on the enabler space in the ICT, services and energy-related sectors, with emphasis on companies in the expansion stage.

Value-Add: DTA will assume the role of an active investor on behalf of the Fund Company. Although it is not likely to be involved with the day-to-day running of the business, it will be keeping close touch with the broad directions of the investee companies. In this respect, we wish to be intimately involved.

The following are some of the areas in which DTA may be of assistance: • Financial planning and advisory • Arrangement of technology alliance or transfer • Project bids and tenders

The partners’ past successes re"ect well on our ability to add value to our investments.

Malaysia O#ce Management Contact Person 24A, Jalan Datuk Sulaiman Dali Sardar, CEO Dali Sardar, CEO Taman Tun Dr Ismail KC Tan, COO Email: [email protected] 60000 Kuala Lumpur Naim Yunus, CTO Malaysia Nikhil Kothari, CFO Investment Size Tel: (60) 3 7722 2560 MYR 0.5 – 3.0 mil Fax: (60) 3 7722 2570 Year Founded 1996 Investment Stage Expansion

Media Entrepreneur’s Guide to Singapore 53 Equity Funding Sources: Venture Capital Funding

Gobi Partners Gobi Partners is an early stage venture capital !rm focusing on IT and digital media investments in China. We de!ne digital media as a new form of communication emerging from the convergence in telecommunications, media and technology. We invest in companies that are pushing the frontier, integrating gaps or enabling consolidation within the digital media value chain.

We began to focus on digital media in 2002 and believed that China is the right place for it given the sheer size of the country. It has the largest TV, Internet and mobile phone markets in the world. In many ways, China is a blank slate with no legacy issues. Other factors such as strong pent-up demand, advanced underlying infrastructure, favorable demographics and government support, made it one of the most attractive digital media markets in the world. In certain sectors, China may actually lead the world. In terms of how digital media may evolve in the next few years, China is the great petri dish for the world.

Shanghai O"ce Management Investment Size Bldg 7 Zhangjiang Innovation Park Wai Kit Lau, General Partner US$1 – 10M 399 Keyuan Road Thomas Tsao, General Partner Shanghai 201203, PRC Lawrence Tse, General Partner Investment Stage Tel: (86) 21 5292 9729 Ken Xu, General Partner Startup/Early Stage/Expansion Email: [email protected] Contact Person Thomas Tsao, General Partner Lawrence Tse, General Partner

Portfolio Companies in the Media Sector Include

CSDN The largest online Chinese-language community for IT developers and professionals in the world www.csdn. net with over 1.4 million registered members to date. DMG Leading out-of-home digital media and advertising company in China and the largest digital media www. dmgmedia.com and advertising company for subway systems in China. Hansun Leading provider of technologies and solutions for IPTV, DTV, triple-play, and in-home multimedia www. hansuntech.com content distribution in China. Idapted Online language training platform based on a distributed call center model that enables learners www. idapted.com and trainers to connect from anywhere, at anytime. i-Vision DTV technology enabling TV broadcasters & telecomm operators to deliver interactive services www. ivisionchina.com over the new digital media platform emerging from TMT convergence in China. Lingtu Digital map database and location-based application provider www.lingtu.com Longtuo One of the leading integrated online advertising and marketing service companies in China. www.longtuo.com Madhouse Proprietary mobile advertising serving system o#ering intelligent targeting capabilities & detailed www. madhouse.cn analytical reporting and enables ad performance and campaign optimization. The World High-end leisure and travel-related media company and information service provider. Traveller www.theworldtraveller.com

54 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Venture Capital Funding

Imprimatur Capital Imprimatur is an operational investment business active on an international basis and focused on the commercialization of high-growth IP backed opportunities emanating from Universities, research institutes and other sources. At its core, Imprimatur’s proposition is the belief that IP exploitation from Universities and research institutes will be at the fore in building the technology businesses of the future.

The Company is represented by an experienced team with a track record of creating shareholder value and with an in-depth understanding of all aspects of what is required to successfully commercialize early stage technology opportunities.

The executive and non-executive directors comprise a group of individuals with complimentary professional skill sets, working together as shareholders to create value in their investee companies. The management team is supported by an Advisory Group comprising scientists and commercial !gures who are [GB] recognized internationally as experts in the technology areas relevant to the Company’s current investment plans.

London O"ce New Zealand O"ce Investment Size 2nd Flr, Staple Hall PO Box 211 Up to S$1M Stone House Court Carterton, New Zealand 87 – 90 Houndsditch Tel: (64) (0) 6379 9271 Investment Stage London EC3A 7NP UK Email: [email protected] Seed and pre-seed Tel: (44) (0) 20 7929 4467 Email: [email protected] Management Greg Barnes, Executive Director Baltic Sea O"ce Simon Flood, Executive Director Elizabetes Street 85a Berga Bazar, II, 19a 2nd #oor Riga LV-1050 Latvia Tel: (371) (67) 365 275 Email: [email protected]

Portfolio Companies in the Media Sector Include

Mobile Mobile gaming and wagering Sports Ltd. Mobile Acuity Image recognition www.mobileacuity.com Leximancer Unstructured text analytics platform www.leximancer.com Manbujia Wi! hotspot provisioning and billing technology www.manbujia.com Camitri Wireless communications technology licensing business Technologies www.camitri.com

Media Entrepreneur’s Guide to Singapore 55 Equity Funding Sources: Angel Funding Angel Funding

BAF Spectrum BAF Spectrum Pte Ltd has committed a total of S$20 million in partnership with SPRING Singapore to invest locally in early-stage companies by 2011. As at August 2008, BAF Spectrum has invested more than S$8 million in nine early–stage ventures.

BAF Spectrum’s projects are partly !nanced through the Business Angel Scheme (BAS) operated by SPRING SEEDS Capital Pte Ltd to provide !nancial and business assistance to start-ups less than !ve years old. Approved under the MAS S13H Tax Incentive, BAF Spectrum is also able to receive PR immigration deposits for investment purposes.

BAF Spectrum is run by a team of experienced business angels and successful entrepreneurs from Asia, India and Europe. This high-caliber and seasoned team has a wide array of business knowledge and expertise in diversi!ed !elds of high-tech industries such as bio-medicals, environmental, media, internet, telecommunications, etc. By working actively with young, fast-growing and scalable companies that target the world-market with innovative product or service o"erings, the team lives up to its operating philosophy best captured in the fund’s slogan: “where ideas meet experience”.

Singapore O#ce Management Investment Size 30 Biopolis Street Chow Yen Lu, Executive Director Up to S$20M #09-02 Matrix Francis Chua, Managing Director Singapore 138671 William Klippgen, Executive Director Investment Stage Tel: (65) 6238 8651 Hellmut Schutte, Executive Director Startup / Early Stage Fax (65) 6238 8652 Sanjeev Shah, Executive Director Tan Hong Huat, Executive Director Contact Person Wong Poh Kam, Chairman Jenny Law, Business Development Manager

Portfolio Companies in the Media Sector Include

Mozat Developer of powerful mobile application Morange which brings a PC-grade internet experience to mobile devices Sky Travel Developer of ERP & MIS software solutions for Chinese travel & tourism agencies Anacle Systems Developer of innovative technology solutions for asset and energy management UeeeU Digital commerce platform for the global travel, tourism and leisure market Le Travenues Technology The company behind iXiGo.com; India’s fastest growing online and mobile travel search (iXiGo) engine based out of Gurgaon, India Progeniq Accelerating processor-intensive applications for life sciences & animations Zapr Internet Technologies Peer-to-Web platform enabling simple-to-operate websites, personal media broadcasting, social networking enhancements, or just about anything else involving sharing of dynamic digital content

56 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding

Finn Evdemon Capital Partners Finn Evdemon Capital Partners Pte. Ltd. is an Asian angel investments "rm that fosters entrepreneurship and provides funding, expertise, networks and incubation services to start-up companies in Singapore, China and other South East Asian countries.

We invest in start-up teams that have exciting products, a sound plan and the resolve to build a high-growth enterprise targeting primarily the Asian markets in Information Technology and lifestyle services.

Our team has a ‘hands on’ approach and directly engages in the operations of the company in areas where we can most e#ectively assist in its crucial early stages. We o#er management and team development expertise, operational experience and provide access to all parts of the entrepreneurial ecosystem in our region.

Finn Evdemon Capital Partners Pte. Ltd. is a Founding Member of the China Business Angel Network (CBAN), a Member of the Business Angel Network South East Asia (BANSEA) and of the INSEAD community.

Singapore O!ce Chris Evdemon, Partner 360 Orchard Road Michael Finn, Partner Investment Size #11-09 International Building US$10,000 – 100,000 Singapore 238869 Contact Person Management Chris Evdemon, Partner

Portfolio Companies in the Media Sector Include

CineNow First and leading operator of the most advanced movie disc rental systems in Singapore with www.cinenow.com.sg thousands of satis"ed members. DNA Ventures Singapore-based company o#ering advanced scienti"c systems and services to the food industry www.dna- ventures.com with a regional focus on Asia Paci"c. Pinetree Provides a unique access channel to China’s mature market (citizens over 50 years of age), www.pinetree.com.cn including o$ine digital literacy, a website targeted at urban citizens that can buy for their parents and an online portal targeted at mature users and designed to simplify the internet experience, showcase tailored products and services, and provide longer term community features. m-Coupon Full-%edged coupon service for manufacturers and retailers with a forward-looking focus on www.m-coupon.cn mobile platforms. Developing a direct marketing channel under an exclusive partnership with China Post, branded as U-GO (www.u-go.cn).

Media Entrepreneur’s Guide to Singapore 57 Equity Funding Sources: Angel Funding

Tigris Capital Tigris Capital is a Singapore-based family investment fund targeting innovative online start-ups in the Asia-Paci!c region. We are looking for world-class innovation but ideally combined with a deep understanding of how to market the products or services to the fast-growing Asian markets.

Singapore O"ce Management 9 Temasek Blvd #08-02 William Klippgen, Managing Director Suntec Tower 2 038989 Singapore Tel: (65) 6238 8651 Fax: (65) 6238 8652

Portfolio Companies in the Media Sector Include

CineNow Pte Ltd Provides automated DVD rental kiosks across Singapore Attentio SA Attentio’s Brand Dashboard™ monitors and analyzes social media such as blogs to provide comprehensive real-time insight into consumer behaviour and attitudes. WhoCanDo Pty Ltd WhoCanDo is a one-stop portal for Australian consumers and businesses who want to buy or sell any kind of service. It operates as an online reverse auction and quotation system. Ethos Technologies Pte Ltd Ethos is a global software service provider o#ering onshore/o#shore project management capabilities backed by top China-based technical talent.

58 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding Individual angel investors

Alex Carrausse 10 years of international experience in information systems management, consulting services and customer support, with direct responsibility over clients’ relationships & business development.

In-depth understanding of pre-sales and after-sales support, service delivery and product development, through the management of supporting resources (engineers, suppliers, providers).

Strong team building and interpersonal skills tested and proved during ground responsibilities in Korea, Nigeria, France, UK and Singapore.

Ability to lead cross-cultural teams and knowledge of the Asian business culture demonstrated while leading teams and several international projects.

Graduated in 1998 with and MS of Engineering in IT systems management. Completed a full time MBA in 2007- 2008 at INSEAD Business School (Singapore campus). During my MBA, I have focused on Business in Asia, Entrepreneurship, Management & Strategy, Venture Capital and Private Equity.

I have an entrepreneurial mindset and I am interested in helping companies to innovate, to grow and to develop their business. I am keen to learn in a diverse environment and willing to share my own knowledge and international experience.

Experience & Expertise Industry Expertise Business Products and Services, Computers and Peripherals, Industrial/Energy, IT Services, Media and Entertainment, Networking and Equipment, Telecommunications

Functional Expertise International, Investment Fund Raising, Logistics, Marketing and Advertising, Negotiations, Operations, Organizational Development and Recruiting, Product, Sales, Science and Technology , Strategic Planning

Previous Positions Held Other Partner, Vice President of Operations, Vice President of Sales

Email Website Blog [email protected] www.get2volume.com www.askthesgentrepreneur.com

Media Entrepreneur’s Guide to Singapore 59 Equity Funding Sources: Angel Funding

Andrew Ng Andrew Ng, Certi!ed Management Consultant and Managing Partner of Greater China Consult, a leading consultancy group that specialises in strategic business development consultancy in the China Market as well as assisting China based companies in their global business development ventures. He is Adjunct Professor and Lead in International Business programs at Walsh College Troy, Michigan & Adjunct Associate Professor at NUS Business School, National University of Singapore.

He has over 20 years of international marketing and business development experience working with various Fortune 500 MNCs in the high technology and fast moving consumer goods industries. He was the Area Vice President (Asia Paci!c) of Schwan Stabilo before he started his own consulting practice. Prior to working with Schwan Stabilo from 1991 to 1998, he spent 10 years in the high technology industry as Managing Director, Asia Paci!c for Control Data Corporation (CDC) and Seagate Technology. Being a veteran in the China market, he has spent the last 26 years in various business development appointments. He was solely responsible for setting up the distribution network in 28 cities and building up the businesses pro!tably for Control Data, Seagate & Schwan Stabilo in China. He has vast experience in spearheading High Tech Start-ups, Joint Venture negotiations and management of various China Ventures. He consults actively for multinational companies; government linked companies, small & medium sized enterprises, as well as leading public listed Chinese companies in International Business Development, International Marketing, Market Entry Strategies, Key Accounts and Distribution Management.

Mr Ng’s fortes are strategic business development, International Marketing, nurturing High Tech start-ups and E Business. He holds a Master in Business Administration degree from National University of Singapore and is also a Fellow of The Chartered Institute of Marketing, UK. He was honoured with the ‘Spirit of Enterprise’ award 2003 for outstanding entrepreneurial achievements, teaches in various EMBA programs for leading universities in China, speaks at a variety of International & regional conferences and specializes in conducting customized in house training programs for US Fortune 500 & Global 1000 companies such as Exxon Mobil, Shell Group, Deutsche Bank, Sano!-Aventis, Medtronic, Sumitomo, etc, all over Asia.

Experience & Expertise Industry Expertise Business Products and Services, Healthcare Services, Medical Devices and Equipment

Functional Expertise Board Membership, Marketing and Advertising, Sales, Strategic Planning

Previous Positions Held Board Member, Chief Executive O"cer, Vice President of Marketing, Vice President of Sales

Email Website [email protected] www.gchinaconsult.com

60 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding

Chew Mun Hou Mr CHEW has more than 25 years of work experience ranging from strategic visioning, conceptualisation, strategic development, marketing, operations and management of science parks and incubators, development of R&D and innovation funding programs, business incubation and venture acceleration, seed and venture funding for start-ups, investment advisory, deal structuring, development of international business networks, information technologies, wireless communications and Internet development.

Mr. CHEW is currently the Chief Executive O!cer of iAxil Venture Accelerator Centre, a full-service incubator in the Singapore Science Park which he started in 1994. To date, iAxil has incubated more than 210 companies, two of which have been successfully listed in the Singapore Exchange. iAxil is a fully-owned subsidiary of Ascendas Land (Singapore) Pte Ltd.

As CEO of iAxil, Mr CHEW is primarily responsible for the provision of incubation and venture accelerator services to startup companies such as business and "nancial modeling, deal structuring, investment advisory, access to overseas markets, business matching, IP management as well as recruitment of key talent for start-up companies. iAxil is also responsible for the provision of advisory services to corporate clients on the strategic visioning, conceptualization, development, management and marketing of science parks and incubators.

Mr. CHEW also holds the concurrent appointment of President, Arcasia Properties, Inc., a fully-owned subsidiary of Ascendas in the United States of America and Head and Vice-President, Business Network & Incubators, Ascendas Land (Singapore) Pte Ltd.

Mr. CHEW holds a B.Eng (Hons) degree in Electronics and Electrical Engineering from the University of Surrey, UK and is a member of the National Business Incubation Association, USA.

Email Website [email protected] www.iaxil.net

Media Entrepreneur’s Guide to Singapore 61 Equity Funding Sources: Angel Funding

Chris Evdemon Chris has 10 years of ‘hands on’ entrepreneurial experience primarily in Information Technology, as well as in the shipping and hospitality / entertainment industries. He has served as the CEO of ICDL Asia Paci!c Ltd., an organisation with operations in over 25 Asian countries which he helped turnaround and relocate to Singapore. Chris has considerable expertise in start-up environments and operations, as well as in franchising and licensing networks. He is also a Founding Member of the China Business Angel Network (CBAN) as well as a Director of the Business Angel Network South East Asia (BANSEA). Chris has a M.Eng. in Mechanical Engineering from Imperial College and an MBA from INSEAD. He is Greek and is "uent in English and in French.

Finn Evdemon Capital Partners Pte. Ltd. is an Asian angel investments !rm that fosters entrepreneurship and provides funding, expertise, networks and incubation services to start-up companies in Singapore, China and other South East Asian countries. Finn Evdemon Capital Partners invests in start-up teams that have exciting products, a sound plan and the resolve to build a high-growth enterprise targeting primarily the Asian markets in information technology, digital media and lifestyle services.

Experience & Expertise Industry Expertise Business Products and Services, Consumer Products and Services, IT Services, Media and Entertainment, Software, Other

Functional Expertise Board Membership, Engineering and Manufacturing Quality, International, Investment Fund Raising, Operations, Organizational Development and Recruiting, Science and Technology , Strategic Planning

Previous Positions Held Board Member, Chief Executive O#cer, VC Partner, Vice President of Operations

Email Mobile Website chris@!nn-evdemon.com (65) 9756 7603 (Singapore) www.!nn-evdemon.com (85) 134 3670 2200 (China) Tel/ Fax (65) 6471 2850

62 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding

Clarence Tan Clarence has diverse experience throughout his years of career development. From Systems Engineer to CIO to VP of Corporate & Consumer marketing to MD of a Technology company he has co-founded, he was able to excel in all of them. As an entrepreneur, Clarence has co-founded an outsource fashion designing company and a number of IT and Biotechnology companies. He has experience in managing the strategic business development of an all the companies he has founded. Under his leadership, the group of companies have expanded the businesses from Singapore to Malaysia, Thailand, Indonesia, Philippines and HK/China with some companies’ sales revenue growing by 50% every year for the last three years.

Clarence graduated with an MSc in Computer Science/Engineering with specialisation in Arti!cial Intelligence from University Of Essex UK, and an MBA in International Business & Management from Imperial College, University of London. He is a member of the Singapore Computer Society (MSCS), Information Technology Management Association (ITMA) Institute of Electrical and Electronic Engineer (MIEEE), USA and IEEE Computational Intelligence Society.

Email [email protected]

Media Entrepreneur’s Guide to Singapore 63 Equity Funding Sources: Angel Funding

David Young David Young is the Managing Director of Azurra Solutions, a consulting business, based in Singapore, providing strategy, !nance and project services to SMEs and multi-national companies. David has worked in China and SE Asia for over 12 years helping build organisations in the Clean Technology, Telecommunications, Manufacturing and IT Software industries.

David is a board member of the Busines Angels Network of South East Asia and Vice Chair of the Clean Energy Committee of the Sustainable Energy Association of Singapore. He graduated from Cambridge University, England with a BA in Computer Science and received an Executive MBA (with distinction) from INSEAD Business School.

Experience & Expertise Industry Expertise Clean Technology, Computers and Peripherals, Internet/Web Services, IT Services, Software, Telecommunications

Functional Expertise Board Membership, Financial Accounting, International, Investment Fund Raising, Strategic Planning

Previous Positions Held Board Member

Email [email protected]

64 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding

Desai Narasimhalu Desai has over 35 years of technology and business innovation experience. He has developed several technologies that have been commercialized. Desai has ideation, IP Managment, Business Strategy, Business Development, contract management, license management and corporate communication experiences. In his past positions he has developed technology valuation models.

Desai is active in codifying his experience and observations in developing successful and not successful innovations into a framework called Innovation Cube, a opportunity identi!cation methodology called Innovation Engine and a innovation prioritization method called Innovation Stack. He has also developed a framework for service innovation opportunity identi!cation. Desai is presently developing a framework for identifying the best means of commercializing technology innovations.

Desai is an active investor in very early stage technology based start ups. He has been a business advisor to several companies. Some of the companies that he is presently advising are Tagit Pte Limited, Fly Free For Health, Hiperware, Tyler Projects and IdentityHub.

Desai is presently a Practice Professor of Information System and is concurrently the Director of the Institute of Innovation and Entrepreneurship at Singapore Management University. He helps SMU run the SMU Business Innovations Generator, an incubator and I.Jam’s Athena Innobator that bring together students and sta" from La Salle, Nanyang Academy of Fine Arts, Nanyang Polytechnic, Singapore Management University, and Singapore Polytechnic.

Experience & Expertise Industry Expertise Computers and Peripherals, Education, Gaming, Internet/Web Services, IT Services, Lifestyle, Media and Entertainment, Medical Devices and Equipment, Mobile, Software, Sports, Telecommunications, Other

Functional Expertise Board Membership, International, Investment Fund Raising, Legal, Negotiations, Operations, Organizational Development and Recruiting, Product, Public Relations and Communications, Science and Technology , Strategic Planning

Previous Positions Held Board Member, Chief Technology O#cer

Email Website [email protected] www.sis.smu.edu.sg/faculty/infosys/arcotdesai.asp

Media Entrepreneur’s Guide to Singapore 65 Equity Funding Sources: Angel Funding

Dominique Pommier Dominique Pommier is a Founder and Director of Active Capital Asia Pte Ltd in Singapore, a private equity advisory and investment !rm.

He started his career in strategic planning with Mars & Co, followed by LBO and M&A transactions with UBS and Daiwa Securities in London.

In the mid-nineties, he was one of three principals managing proprietary capital on behalf of former Lazard partner Edouard Stern, and his mentor, Sir James Goldsmith, which was used to develop industrial and property deals in emerging markets such as Africa, Vietnam and Myanmar. He then helped launch Lazard Asia in Singapore, including a US$57 million Vietnam fund, and managed US$250M of capital contributed by Lazard, Temasek and the Agnelli family, that focused on direct investments in the region.

Active Capital Asia is providing strategic guidance and private placement assistance to entrepreneurs and private equity funds raising capital in Asia, as well as selectively investing proprietary capital in private equity transactions in Greater China.

Dominique holds a Masters degree in Sciences from Ecole Polytechnique, France’s leading scienti!c graduate school, as well as a post-graduate degree in Economics. He is a long-term resident in Asia, and worked in Vietnam from 1997 to 1999. He is a member of the Singapore Venture Capital & Private Equity Association, and of the Business Angels Network South East Asia.

Experience & Expertise Industry Expertise Clean Technology, Computers and Peripherals, Financial Services, Internet/Web Services, Mobile

Functional Expertise Board Membership, Investment Fund Raising, Strategic Planning

Previous Positions Held Board Member, VC Partner

Email Website [email protected] www.activecapitalasia.com

66 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding

Douglas Abrams Douglas Abrams is the founder and CEO of Expara and Expara IDM Ventures, a venture creation company and a business accelerator for the interactive and digital media industry. He is also a founding partner of Parallax Capital Management, a funds management company. All three companies are based in Singapore. Prior to coming to Singapore, Mr. Abrams managed information technology at J. P. Morgan for 14 years. He is an Adjunct Associate Professor at the National University of Singapore’s Business School where he lectures on New Venture Creation for undergraduates and post-grads. He is also a Visiting Professor in Entrepreneurship for the Sasin Graduate Institute of Business Administration at Chulalongkorn University in Bangkok.

Mr. Abrams serves on the board of the Media Development Authority of Singapore. He also serves on the board of several start-up companies. He is on the organizing committee for the Start-Up@Singapore national business plan competition and has previously served on the organizing committees for the Global Start-Up@Singapore, Start-Up Asia and Stanford Global Entrepreneurship Challenge business plan competitions. He has served as the academic supervisor for the NUS in Bio-Valley Program, as a judge, guest speaker and mentor in the Start-Up@ Singapore business plan competition and was a judge in the Lee Kuan Yew Global business plan competition, the Wharton business plan competition, Ngee Ann Polytechnic Life Science Product Business Plan Competition, Nanyang Polytechnic School of Business Management’s Best Business Plan Competition, and at INSEAD’s MBA program business plan presentations. He was previously a member of the steering committee for the NUS Venture Support Fund (VSF) and the NUS FUSE Fund for student businesses. He has also served as an External Examiner, School of Business & Accountancy at Ngee Ann Polytechnic.

Mr. Abrams is the Co-Deputy Chairman of the South East Asia Business Angel Investor Network. He graduated from the Annenberg School, University of Pennsylvania with a BA in Communications and received an MBA from The Wharton School.

Address Tel Email Expara Pte Ltd (65) 6435 5295 [email protected] One George Street, #17-05 Singapore 049145

Media Entrepreneur’s Guide to Singapore 67 Equity Funding Sources: Angel Funding

Eugene Wong Eugene Wong is the Founder and Managing Director of the Sirius Group, a boutique venture capital and entrepreneurial !nance company which works with and invests in small- and medium-sized enterprises (SMEs). He is also the Vice-Chairman of the Singapore Venture Capital & Private Equity Association (SVCA).

The Sirius Group manages two funds. The S$30 million Sirius SME Growth Partners I Fund invests in Singapore- based SMEs at the growth and expansion stage, while the S$20 million Sirius Angel Fund is a collaboration with SPRING Singapore which invests in high-growth, innovative and early-stage companies.

Eugene sits on the boards of several public-listed companies such as Ajisen China Holdings Limited listed on the Hong Kong Stock Exchange and Haike Chemical Group listed on the UK AIM. He is also active in social entrepreneurship and sits on YMCA - Citibank Youth for Cause Programme, as well as the Singapore Accounting Standard Council Executive Committee.

Eugene is an Adjunct Lecturer at Nanyang Technological University (NTU) and National University of Singapore (NUS), teaching subjects like New Venture Finance, Venture Capital Finance, and Entrepreneurial Finance. He recently authored his own book ‘Entrepreneurial Finance - Start up to IPO’.

Eugene graduated with a BBA (First-Class Honours) from NUS and an MBA from Imperial College London. He also attended an Executive Programme for Growing Companies at Stanford Business School; the Entrepreneurs’ Organization-Massachusetts Institute of Technology (EO/MIT) Entrepreneurial Masters Programme; as well as the Price Babson Symposium for Entrepreneurship Educators (SEE). Eugene is a Chartered Financial Analyst. Eugene is also a member of the Institute of Directors in UK, Australia and Singapore.

Email Website [email protected] www.sirus.com.sg

68 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding

Francis Chua Francis Chua was with the Singapore Civil Service for 23 years. He retired from government service at the age of 45 to become a private equity and angel investor. He worked at the Ministry of Defense until 1990 when he was seconded to the Economic Development Board to pioneer the development of the Batam and Karimum industrial parks. Mr Chua has investments in hotel, property, biotech, environmental, and energy projects in Europe and Asia. He assists start-up companies in his capacity as Vice-Chairman of the Business Angels Network (South-East Asia) which is a non-pro!t organization and now heads the new angel fund, BAF Spectrum Pte Ltd.

Experience & Expertise Industry Expertise Biotechnology, Clean Technology

Functional Expertise Board Membership, Investment Fund Raising, Negotiations, Strategic Planning

Previous Positions Held Board Member, Chief Executive O"cer

Email Website [email protected] www.bafspectrum.com

Media Entrepreneur’s Guide to Singapore 69 Equity Funding Sources: Angel Funding

Hellmut Schütte Professor Hellmut Schütte joined INSEAD’s faculty in Fontainebleau, France, in 1981 after a successful career in the areas of marketing and investment banking covering a period of 11 years. As Senior A!liate Professor of International Management, he teaches and does research in the area of international business and international marketing with a special focus on Asia. His present work is concerned with markets and consumers in Asia, with the emergence of China and India, and with the regionalisation of the strategies and organisational structures of multinational "rms. Professor Schütte studied economics and business administration in Germany and obtained his doctorate from the University of St.Gallen, Switzerland. He was visiting professor at the University of Tokyo, a visiting professor at Boston University, and visiting scholar at Harvard University.

Up to the fall of 2006, Professor Schütte was the Dean of INSEAD’s fast growing Asia Campus located in Singapore. It comprises of state-of-the-art facilities, a faculty of 40 full-time resident professors, and welcomes 300 MBA participants and 2500 executives per year.

Professor Schütte has lived and worked in nine di#erent countries, and taught in seminars in about 40 countries all over the world. He is a well-known speaker in conferences and business meetings and is actively involved in various executive programmes, advisory roles and consulting assignments. Professor Schütte has been a director of SPRING Singapore for three years and is an Executive Director of BAF Spectrum, a business angel "rm.

He is a regular contributor to the World Economic Forum in Davos and other places in the world and the author of many articles and of "ve books. The third edition of this bestselling book ‘Strategies for Asia Paci"c’ (co-author P. Lasserre) appeared in 2006.

Professor Schütte is a permanent resident of Singapore with interest in the real estate sector, and is a devoted o#shore yachtsman.

Tel Email (65) 6799 5347 [email protected]

70 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding

Ho Chin Beng Mr Ho Chin Beng has served as the Chairman & CEO of ABBA Group since August 2003 and the Chairman of Chin B Ho Group since January 1996. Mr. Ho is also the Advisor of the Wealth Management Group of CIMB-GK Securities Pte Ltd.

Mr. Ho has technopreneurial experience with his appointments as the President & CEO of CRE8 Ventures Pte Ltd and Chairman of The Internet CallCentre Pte Ltd. from January 1996 to December 2002.

Mr Ho has previously held positions as International Banker, TV Executive Producer and Print Financial Journalist from October 1982 to June 1992. He is the Council Member of American Management Association’s Pan Asian Council, Life Member of Economic Society of Singapore, and Former Founder Director of BANSEA.

Mr. Ho graduated from AB, Kenyon College in Gambier, Ohio, and obtained an MBA Degree from Harvard Business School in Boston, Massachusetts.

Email chinbeng@paci!c.net.sg

Media Entrepreneur’s Guide to Singapore 71 Equity Funding Sources: Angel Funding

James Tay Chin Kwang James Tay is currently a Director at National University of Singapore (NUS) Enterprise (ETP), a Director of NUS Extension (NEX) the continuing education arm of NUS, and Executive Director of KR Consulting which is a fully owned subsidiary of NUS Technology Holdings. James is one of the founding Partner of Anacle Systems Pte Ltd, an asset management software solution company. He currently sits on the NUS Investment Committee that overseas the investment of companies by NUS ETP and also a member of the review panel appointed by NUS ETP that manages the NUS Micro Funding Scheme (MFS) supported by MDA. He is also a Director on the Board of Genometri Pte Ltd a 3D-Design Software Company that NUS Technology Holdings has investment in and serves as a Director of the Business Angel Network South East Asia (BANSEA).

James is a seasoned business leader and entrepreneur with 25 over years of operations and management experience across varying industries with broad regional experience throughout the Asia Paci!c region. Prior to joining NUS, he has his own consulting business and has held various senior management positions such as Director of Ra"es Education Corporation / Hartford Education Corporation, Group Managing Director/CEO of Markono Holdings, Director/General Manager of Commerce One Inc, and Managing Director - Asia Paci!c Operations of Autodesk Asia.

He holds a MCIPS designate as a certi!ed / graduate member of The Chartered Institute of Purchasing & Supply, UK and was a CSCP - Certi!ed Supply Chain Professional accorded by the Curtin Business School and SIMM when he was servicing on the Advisory Board of SIMM Supply Chain Management. James has a Bachelor of Management (Hon.) degree from IMC, UK and a Master of Business Administration (MBA) from the National University of Singapore.

Tel Mobile Email (65) 6338 8400 (NEX-Park Mall) (65) 9670 8650 [email protected] (65) 6516 5945 (NUS-Kent Ridge)

72 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding

Joe Rouse 18 years of technology and biotechnology business experience, in executive management, governance and consulting positions. Now a General Partner with Pioneer Capital Partners, most previous role was Chief Operating O!cer of GridIron Software Inc. Also a founding partner (now a venture partner) of MSBi Capital, a venture fund that invests in companies associated with three leading Canadian universities.

Past corporate roles include Director of Marketing at Philsar Semiconductor, responsible for the company’s marketing e"orts that culminated in a $200M US acquisition by NASDAQ-listed Conexant Systems. Prior to Philsar, Marketing Manager at Tundra Semiconductor, responsible for corporate and product marketing from the company’s spinout from Newbridge Networks through its highly-successful TSE Initial Public O"ering.

Governance roles include the Board of Directors of the Ottawa Life Sciences Council, the Business Advisory Committee of the Ottawa Hospital Research Institute, and the Advisory Board of the Carleton University Foundry Program. Joe has also served on the board of early- and expansion-stage technology companies, assisting with strategy, business development, fund raising and M&A negotiations.

Past consulting assignments include Vice-President of Marketing of a wireless broadband systems company, and Vice-President of Marketing of a digital rights management software company. In both instances, Joe served on the executive team and managed a marketing e"ort that included product and corporate marketing, in particular the launch of the company’s #agship product.

Joe has published business articles, spoken at technical and marketing conferences, and lectured at the post- secondary level. Joe holds a Bachelor’s degree in biochemistry and physiology, and an MBA, both from Queen’s University at Kingston, Ontario, Canada.

Experience & Expertise Industry Expertise Biotechnology, Internet/Web Services, Medical Devices and Equipment, Mobile, Semiconductors, Software

Functional Expertise Board Membership, International, Investment Fund Raising, Marketing and Advertising, Operations, Organizational Development and Recruiting, Product, Public Relations and Communications, Strategic Planning

Email [email protected]

Media Entrepreneur’s Guide to Singapore 73 Equity Funding Sources: Angel Funding

Junior Lee Having started his !rst business venture more than 16 years ago, Lee Junior represents a new breed of young serial entrepreneurs with extensive entrepreneurial experience and network, which spans across diverse industries, ranging from high-tech start-up companies and SMEs to MNCs. Lee Junior has recently retired from the M&A Equity Financing Industry and is currently helping his father to run their family’s cold supply-chain business and starting their own ice-cream retail chain while lecturing part-time as an Adjunct Lecturer for Entrepreneurship in various IHLs (institutes of higher learning).

In his previous appointment as Co-Founder and Director of Business Development in ACE Nexus Pte Ltd, Lee was in charge of identifying, incubating; and marrying companies that require venture capital !nancing with investors and !nancial institutions such as Venture Capital Funds, Corporate Investors and High Net Worth Individuals through M&A, equity or debt !nancing, as the de facto ‘Rainmaker’ of his !rm. Before starting ACE Nexus with his partners with the support of EDB and JTC, Lee worked as the Vice President of iAxil Pte Ltd, the business incubator arm of Ascendas Pte Ltd, which provides one-stop solution to help techno-tenants launch and grow their ventures. Prior to joining Ascendas, Lee worked as a key member of Suntec City’s Innovative Technology Initiative Team (iT2), and was instrumental in conceptualising and executing Suntec City’s cutting-edge technology initiatives and IT Convergence Exercise. Besides helping to grow and raise funds for his !rm’s incubatees and clients, the projects that Lee had played signi!cant roles in, include helping to jumpstart the EDB-initiated HOTSpots (Hub of Technopreneurs) Programme, the patenting of Suntec City’s Facilities Service Provider (FSP) business model, and the implementation of various business networking models and cross-border collaborations for Ascendas Pte Ltd.

Presently, Lee has taken an o"cial leave-of-absence from his MBA Classes with NUS Business School to focus on his business interests, to support the proliferation of local entrepreneurship and also to contribute to the society through voluntary work.

Experience & Expertise Industry Expertise Consumer Products and Services, Food/Drink, Lifestyle, Marketing/Advertising, Media and Entertainment, Retailing/Distribution.

Functional Expertise Board Membership, Investment Fund Raising, Logistics, Marketing and Advertising, Negotiations, Operations, Organizational Development and Recruiting, Sales, Strategic Planning

Email Website [email protected] www.leejunior.com

74 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding

Laurent Roux Laurent Roux has 9 years of Regional (multi-country) IT/eCommerce Director level Management experience, working for the French Ministry of Finance abroad and US MNCs, in Singapore/Asia Paci!c (2004-now) and in San Francisco-North America (1997-2004), where he led the development and implementation of Web, Computer Security Infrastructure, Intranet and CRM platforms; he is a French citizen by birth and a Singapore Permanent Resident since 2007.

He holds an MBA from INSEAD (France/Singapore) with a concentration in entrepreneurship & !nance and MSc. EE from INSA Lyon (France)/Calpoly Pomona University (USA). He is passionate about emerging web technologies/ business models/internet startups and is also an avid industry networker through Singaporean non pro!t associations such as The Digital Movement, E27, ACE, Web Wednesday and BANSEA/SVCA, in San Francisco/Silicon Valley through Siliconfrench and around the world through the INSEAD alumni and the Economic Departments of the French Embassies extended networks.

Most recently: • Worked with entrepreneurs to re!ne their respective startups’ business plans and secure growth funding and strategic partnerships for online social networks related tool/platform (http://www. orsiso.com), emerging high fashion distribution (http://www.littleblackdress.sg), !lms/ documentaries production (http://persistentproductions.com) and emerging countries art sales (http://strategicartfund.com) • Evaluated for purchase and turnaround/growth several existing online businesses in the US and UK in the textile, wellness, and world arts & social investing industries • Judged the !nal presentations of the INSEAD Realizing Entrepreneurial Potential elective with turnaround projects in !nancial services, manufacturing, medical, oil & gas and fashion industries.

Experience & Expertise Industry Expertise Clean Technology, Computers and Peripherals, Financial Services, Internet/Web Services, IT Services, Lifestyle, Marketing/Advertising, Media and Entertainment, Mobile, Networking and Equipment, Retailing/Distribution, Software, Sports, Travel.

Functional Expertise International, Investment Fund Raising, Negotiations, Operations, Product, Strategic Planning

Email [email protected]

Media Entrepreneur’s Guide to Singapore 75 Equity Funding Sources: Angel Funding

Leslie Loh Mr Leslie Loh graduated from Saint Mary’s University, Canada, in 1982 with a bachelor of Commerce, majoring in Finance and Information Technology.

Mr Loh was the Founder, Chairman and CEO of System Access since its inception in 1983. Mr Loh played a major role in leading System Access from being a one-man out!t to a global banking software organization with 10 o"ces and 500 sta# in Europe, Middle East and Asia. Under his leadership, System Access has received various awards and recognition in Singapore. The company’s $agship product, SYMBOLS, has received the Singapore 1998 National IT Award, Asia Paci!c 2003 IT Awards (‘Special mention’) and IBS UK “Top 10” universal banking software ranking for 5 years. System Access was ranked amongst the top 50 most enterprising companies in Singapore for 4 times.

Mr Loh was selected the winner of the 1998 ASME Rotary Entrepreneur of the Year in Singapore. In 1999, Mr Loh received the National Youth Award (Individual) for his success as an entrepreneur. In 2006, Leslie was awarded the “Person of The Year” IT Leader Award by the Singapore Computer Society.

Mr. Loh was an IDA Board Member (Infocomm Development Authority of Singapore) for 2 terms from 1999 to 2003. Mr Loh has various investments including the Nextview Group from Singapore where he currently serves as the Chairman of the Board.

Beyond his responsibilities in System Access, he always !nds time to contribute to entrepreneurial and ICT development in Singapore. Mr Loh is a frequent speaker at various corporate seminars or local academic events sharing his entrepreneurial experiences. He has also been invited as judges to various awards committee including ASME Entrepreneurial of the Year and National Infocomm Awards.

Address Tel NextVIEW Pte Ltd 63231663 5 Shenton Way #02-03 UIC Building Fax Singapore 068808 63231889

76 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding

Mark Langhammer Mark is the Principal of 101 Capital and has twenty years of regional business experience in professional services, commercial and industrial products. Built and managed the largest CEO-focused executive peer group information program in Asia, subsequently expanding the business model to North and South America.

Successfully acquired and integrated new businesses, rebranded and repositioned business units, developed and introduced new products and services, established new operations throughout Asia including China.

Extensive business development experience working with C-level executives and government dignitaries including Presidents, Prime Ministers, Ministers and senior o!cials in more than 20 countries across the Asia Paci"c region.

He has a BS degree in Business Administration from Miami University, Oxford, Ohio, USA. With vast experience in Marketing & International Business, he has served in these positions: Senior Vice President, Asia Paci"c, The Economist Group Founder & Director, Aus-Tec Products Marketing Director, Electrolux SEA

Experience & Expertise Industry Expertise Marketing

Functional Expertise International Business, Marketing

Email Website [email protected] www.101capital.com

Media Entrepreneur’s Guide to Singapore 77 Equity Funding Sources: Angel Funding

Wong Meng Weng Wong Meng Weng recently returned to Singapore after three years in Silicon Valley, ten years in Philadelphia, and three years in Vancouver. During this time, he founded and exited two Internet dot-coms, led the SPF opensource standard to successful worldwide rollout, and learned several painful lessons about the operational aspects of early-stage entrepreneurship. His two previous ventures, pobox.com and karmasphere.com, explored the email security industry and developed reputation systems.

As a third-generation Singapore entrepreneur, he is keenly interested in the expansion of the creative class in Singapore; to this end, he intends to organize Barcamps, SuperHappyDevHouses, and invite-only Foocamp events here, spanning infocomm technology, energy, biotech, media, and next-generation investment sectors. He recognizes that several cultural factors militate against Valley-style entrepreneurship but is optimistic that the younger generation of locals, plus a dose of fearless immigrants, will overcome them. He volunteers as a mentor with SMU and with A*STAR.

As an angel investor, his investment strategy focuses on Internet start-ups in the Asian region based on deeply original technologies. These start-ups must exploit or answer a fundamental human need. He believes that after Web 2.0, energy, and biotech, the next rich wave of investment will be in the area of secular ethics.

Meng earned a Bachelor’s degree in Computer Science at the University of Pennsylvania (SEAS ‘97), and attended MBA school at the National University of Singapore (2000) while simultaneously taking classes toward a Master of Knowledge Engineering. Prior to that he passed through the GEP at Ra!es Institution and Anglo-Chinese Primary School. He programs in Perl, edits in emacs, totes a MacBook, sketches with a Wacom in Adobe Illustrator, and typesets with InDesign. He is inseparable from his iPhone but dreams of an Android and covets a Kindle. He does not commute in a car but bicycles on a Brompton.

His hobbies include precision housekeeping, psychometric typology, visual design, recreational cooking, bicycle touring, and historical costumery. He enjoys Belgian ales, brown rice, organic salads, and home-baked rustic bread.

He is also an enthusiastic amateur photographer, with over 10,000 images available online at "ickr.com/mengwong. You can email him at [email protected].

By day, he works with BoxSentry, recently named to the Red Herring Global 100, to restore trust in the world’s email system through whitelisting and positive reputation.

78 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding

Michael Holt As Managing Partner at Get2Volume (www.get2volume.com), Mike helps senior executives in technology companies improve results. He focuses on technology companies doing business in or from Asia. Mike is based in Singapore.

Mike is a ‘hands on’ senior executive, proven leader of high growth companies, and experienced CEO. Mike’s recent experience includes leading as CEO two consumer electronics fabless semiconductor companies where his achievements include raising $40 million in venture capital and leading from start up to pro!tability and exit.

Mike’s experience spans multiple disciplines, including:, marketing, product development, operations and mergers/acquisitions in both entrepreneurial and senior management positions. Prior to leadership roles in venture-backed technology companies, Mike spent 15 years at Texas Instruments/Silicon Systems including leading a business from start up to greater than $100M in sales.

Mike holds BSEE, MSEE and MBA degrees from the University of California, Irvine.

Experience & Expertise Industry Expertise Computers and Peripherals, Consumer Products and Services, Electronics/Instrumentation, Semiconductors, Software

Functional Expertise Board Membership, Engineering and Manufacturing Quality, International, Investment Fund Raising, Logistics, Marketing and Advertising, Negotiations, Operations, Organizational Development and Recruiting, Product, Public Relations and Communications, Sales, Science and Technology , Strategic Planning

Previous Positions Held Board Member, Chief Executive O"cer, Vice President of Marketing, Vice President of Operations

Email Website Blog [email protected] www.get2volume.com www.askthesgentrepreneur.com

Media Entrepreneur’s Guide to Singapore 79 Equity Funding Sources: Angel Funding

Peter Tay Mr. Peter Y.B. Tay is currently the Managing Director of TPS Corporate Services Pte Ltd, a corporate secretarial and advisory company, Chairman of Mossack Fonseca & Co (S) Pte Ltd, an international o!shore incorporation and corporate service company and Managing Partner of Tomlinson Global Access Partners Limited, responsible for business development within the Southeast Asian region. Mr. Tay also sits on the Board of Directors of numerous public and private companies in Singapore, Malaysia, Hong Kong and Indonesia.

Mr. Tay has extensive experience in corporate advisory areas such as corporate "nance, venture capital, business re-engineering, mergers and acquisitions, investment and management consultancy; property development and management; shipbuilding and shipping.

Academically, Mr. Tay holds a BBA with honors as well as an MBA from the National University of Singapore. He was also a Monetary Authority of Singapore Scholar and a University of Singapore Gold Medalist (Kesatuan Akademis) and has been practising as a Chartered Secretary after certi"cation from the Institute of Chartered Secretaries and Administrators in the United Kingdom. Furthermore, he is the Chairman of the International Resource Panel and Member of the Advisory Board of the NUS Business School as well as the President of the NUS Business Society Alumni Association, Advisor to AIESEC Singapore MC and Honorary Vice-President of The Boys’ Brigade in Singapore.

Email [email protected]

80 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding

Pierre Hennes Co-Founder and Partner of Upstream Ventures, Pierre has over 6 years experience in VC and new venture creation across Asia, supported by 8 years of international corporate and startup experience. He has worked as an IT consultant to the !nancial services industry with Accenture, and as a private strategic consultant in Europe and the US for companies across various sectors including internet and new media, mobile communications, real-estate, and the arts. Pierre also worked extensively throughout Russia with the Deloitte Touche ILA Group to stimulate regional economic growth and investment through the commercialization of local emergent technologies. Prior to Upstream Ventures, he held the position of Director of Marketing for a Brussels-based B2B e-procurement startup. Pierre currently serves on the board of several Upstream Ventures portfolio companies including Mikoishi Pte. Ltd. and Tagit Pte. Ltd., and is a frequent guest speaker, lecturer and business plan judge at industry events and universities such as INSEAD, SMU, NUS and NTU.

Pierre earned a B.A. with Honors in International Relations from Boston University, and an MBA from New York University’s Stern School of Business.

Pierre serves as Deputy Chairman of the Business Angel Network South East Asia (BANSEA), is a Committee Member of the SVCA (Singapore Venture Capital & Private Equity Association), is a Charter Member of TiE Singapore, and is the head of the NYU Stern Alumni Group in Singapore.

Address Tel Email Upstream Ventures (65) 6536 7331 [email protected] 15 Queen Street #03-05 Singapore 188537 Fax (65) 6536 7301

Media Entrepreneur’s Guide to Singapore 81 Equity Funding Sources: Angel Funding

Dr Robert Bong Dr Robert Bong, a former Chief Executive O!cer and Managing Director of a number of public listed companies, has more than thirty years of corporate leadership and management experience working and living in the USA, Europe, India, China and Asia Paci"c countries. His key accomplishments include leading the start-up, operation and restructuring of entrepreneurial, multinational and government-linked organizations, private as well as public listed companies.

Robert founded CRICT in Boston, M.A. in early 2000, CRICT is a highly specialized professional services company providing their clients with hands-on advisory and consultancy services. Today, CRICT operates out of Singapore, Beijing, China, and Bangalore, India. He has special interest in the technology sector in emerging economies particularly China and India. Robert is currently based out of the Beijing o!ce in China and travels to India on alternative months.

In addition, he works with INSEAD Business School as an Entrepreneur-In-Residence, Harvard Business School as International Executive Mentor, TsingHua University as Coach for doctoral and master students, and Singapore Management University, Institute of Innovation and Entrepreneurship as Business Mentor.

Mobile Email Website (86) 13910114184 [email protected] www.CRICT.com

82 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding

Steve Melhuish Business2pro!t was founded by Steve Melhuish in 2004. Steve is an entrepreneur and advisor with 17 years experience building mobile, Internet, digital media and interactive marketing businesses.

Steve is active in the venture community and has built and mentored numerous new businesses. He is co-founder of Property Guru (Asian property portal) and on board of ComiAsia (web2.0 site and Red Herring Asia 100 Award Winner 2007) and Leiki (digital content and advertising personalization). He was awarded the Spirit of Enterprise award for 2007 recognizing contribution to entrepreneurship in Singapore. Steve is a member of the Singapore Venture Capital & Private Equity Association (SVCA) and Business Angel Network South East Asia (BANSEA), as well as occasional business plan competition judge at INSEAD business school, National University of Singapore and Media Development Authority.

He has a track-record of successfully helping new businesses in the interactive marketing, Mobile, Internet, digital content, !le sharing, gaming, mobile TV, tripleplay and content delivery spaces. He has also led projects for corporate clients including Skype (expansion and mobile strategy), AOL (M&A), Extreme (mobile media), Virgin (media), Ariadne Capital (Digital Media investment), Vodafone (VoIP), iPass (Asia strategy), BT (search), Carphone Warehouse (content) and Venture Capital !rms.

Steve’s experience includes building an international mobile business into $200m turnover and market leadership; Leading a $500m turnover P&L; Recruiting and running multi-cultural sales and marketing teams globally; Forging board-level relationships with multi-national enterprises; Securing $150m+ outsource and global contracts with major players including Vodafone and T-Mobile; Developing and launched broadband, MVNO/mobile and VoIP businesses; And turning-round a $450m revenue business.

He has a Communications Engineering honours degree from the University of Plymouth, and post-graduate Diploma in Marketing from the Chartered Institute of Marketing (CIM). Steve is married and a resident of Singapore.

Email Website steve@business2pro!t.net www.business2pro!t.com

Media Entrepreneur’s Guide to Singapore 83 Equity Funding Sources: Angel Funding

Walter Lee Walter Lee is the Senior Vice President and Fellow at Exploit-Technologies of the Agency for Science, Technology and Research (A*STAR). He heads the division of market researchers and technical consultants engaged in technology road-mapping and commercial assessments of the intellectual property assets of A*STAR. He is a member of the A*STAR Innovation & Enterprise (I&E) Secretariat and co-authored the book on “Inventions that $ell”.

Walter is the Head of the Technology Transfer Network (TTN) Secretariat, an alliance of angel networks, VCs, and international technology transfer organizations committed to enhancing the transfer of technology to the industry. He is concurrently the Head of the Angels Investment Management (AIM) program of Exploit-Technologies and is a Board member of the Business Angel Network South East Asia (BANSEA). AIM works with various angel networks in Singapore to facilitate angel investments in technology based startups from A*STAR and the TTN.

Walter is a Consultant and Lecturer at the Nanyang Technological University, Nanyang Technopreneurship Center for the Masters of Science in Technopreneurship and Innovation Program. He is also a guest lecturer at the MBA programs of both the Nanyang Technological University and National University of Singapore. Walter has more than 20 years of international management experience in the high-tech industry. He was on the IDC Worldwide Consulting Management Board, as the Vice President and Head of IDC Consulting Group, SMB and Partnering Research, in Asia/Paci!c. At IDC, Walter provided consulting services to research institutions, government institutions in Asia/Paci!c, Venture Capitalist !rms and global MNCs.

At Singapore Airlines, Walter was the Vice President and Head of the airline’s E-Commerce Center, spearheading the company’s e-initiatives. He was on the founding committee of the start-up company Zuji.com established by Asia/Paci!c airlines.

As the Head of StarHub’s Wireless Broadband business unit, Walter founded the global Wireless Broadband Alliance, with global players that include NTT.COM, British Telecom, Telstra, Korea Telecom, T-Mobile, and established Singapore as a global leader in Wireless Broadband Services. Walter was the Country Manager at IBM Singapore for the Government and Education Sectors and the Asia/Paci!c Regional Manager for E-Business at IBM Asia/Paci!c, spearheading solutions for small and medium businesses. He was selected for the IBM Executive Leadership training program at the IBM Learning Center, Corporate Headquarters, Armonk, New York. He received the IBM CEO Reward, Recognition and Retention (RRR) Award.

Walter has a MBA from the Golden Gate University of San Francisco, Graduate Diploma in Marketing from the Marketing Institute of Singapore, and B.Eng (Hons) from the Nanyang Technological University, through corporate scholarships from Hewlett-Packard and Chartered Industries of Singapore Technologies. He attended the Executive Internationalisaton Management program at INSEAD.

Email [email protected]

84 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding

Wong Poh Kam Dr. Wong obtained two BSc.’s., an MSc. and a Ph.D. from MIT and currently holds joint Professorship appointments at the NUS Business School and LKY School of Public Policy. He is concurrently the Director of the Entrepreneurship Centre at NUS, where he spearheads the university’s entrepreneurship education program and various university technology commercialization and spin-o! support programs including incubation, seed funding and mentoring. He is the initiator of the annual StartUp@Singapore national business plan competition in Singapore (since 1999), and serves as an advisor to a number of NUS student entrepreneurship initiatives such as the NUS Entrepreneurship Society (NES) and the ASEANpreneur student network. He has consulted widely for many international organizations, government agencies and high tech "rms in Asia. He is on the board of NUS Technology Holdings, and a member of the evaluation panel of a number of public funding schemes, including The Enterprise Challenge (TEC) of the Prime Minister’s Department, the Investment Committee of NUS Enterprise, and the Technology Enterprise Commercialization Scheme (TECS) of SPRING Singapore.

An active angel investor with investee companies in Silicon Valley, Singapore, China and India, he is the founding chairman of the Business Angel Network South East Asia (www.bansea.org) and chairman/partner of an angel fund (BAF Spectrum) www.bafspectrum.com) co-invested in by SPRING Sngapore. His investee companies in the ICT and internet sector include iWow, TenCube, GlobalRoam, Invantest, Mozat, iXigo, uEEEu.com and Anacle.

Address Tel Email NUS Entrepreneurship Centre (65) 9088 7718 [email protected] E3A Level 6, NUS [email protected] [email protected] 10 Kent Ridge Crescent Singapore 119260

Media Entrepreneur’s Guide to Singapore 85 Equity Funding Sources: Angel Funding

Yen-Lu Chow Mr Chow is a US technopreneur based in Singapore, with a 25-year career in technology, media and venture creation; a successful entrepreneur, VC and an active angel investor, he founded companies in technology, media, and entrepreneurship consulting, invested in and sits on the board of over 10 portfolio companies in technology and digital media, and serves as a resident Mentor to NUS Enterprise Incubators; an internationally recognized leader in voice and language computing, he was a Distinguished Technologist at Apple Computer in the Silicon Valley, and holds 6 international patents.

Address Tel Mobile 30 Biopolis Street #09-02 Matrix (65) 6777 7139 (65) 9788 7537 Singapore 138671

86 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding i.JAM Incubators

i.JAM Incubators The i.JAM Micro Funding Scheme of The Interactive and Digital Media (IDM) Research and Development (R&D) Programme O!ce (IDMPO) under the Media Development Authority of Singapore (MDA) provides mentorship and angel-level funding through a network of nine incubators:

1. Athena Innobator 2. Azione Capital 3. Expara IDM Ventures 4. Frontedge Capital 5. NUS Enterprise and The Garag3 6. NTU Ventures 7. Singapore Infocomm Technology Federation (SiTF) 8. Stream Global 9. Thymos Capital

Note: For more details on the i.JAM Programme, refer to the IDMPO section of Public-Sector Funding below.

Media Entrepreneur’s Guide to Singapore 87 Equity Funding Sources: Angel Funding

Athena Innobator The Athena Innobator (AI) is a joint incubation programme consisting of SMU, Nanyang Polytechnic (NYP) and Nanyang Academy of Fine Arts (NAFA) as founding members. AI works closely with the Interactive Digital Media Programme O!ce (IDMPO) administer the S$50K microfunding scheme as well as to facilitate support from industry players, business mentors and technology suppliers to provide bottom-up assistance to transforming innovative ideas into useful applications and breakthroughs.

AI also conducts regular networking sessions aimed to facilitate students from all 3 institutions to come together and create new start ups under this scheme.

Singapore O!ce Ng Kian Bee Institute of Innovation & James Sin Entrepreneurship Desai Arcot Narasimhalu SMU Administration Building 81 Victoria Street, Level 9 Contact Person Singapore 188065 Adeline C. Tan Tel: (65) 6828 0655 Email: [email protected] Fax: (65) 6828 0485 Management

Portfolio Companies in the Media Sector Include

Roam Over IP Pte Ltd Building the "rst independent International Mobile Roaming Service Platform and (Overoam) Network Ezridez Provides web-based design tool for car graphics in 3D. The car graphics can be exported as an interactive and customizable widget. It integrates a revenue sharing advertising model as a bene"t for users and as an e#ective tool for advertisers. Gamma Studios Creating a Machinima portal where we educate and assist users in producing their own real-time 3D movies and help sell them in the virtual world SecondLife Swoozh LLP Swoozh LLP’s $agship product, FAME, is a social game that banks on wisdom of crowds to evaluate brands and predictions through novel and innovative features. iLAP Consumer behavior mining and risk management company with goal to provide real-time behavior mining to help companies to sell the right products or provides the right information or services to the right customers at the right time and location. iMAS Building an interactive Mind Alert System where users are able to be alerted whenever s/he attention level fall below a preset level. It aims to help users such a drivers, pilots to avoid detrimental accident due to fatigue.

88 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding

Azione Capital Azione Capital Pte Ltd is a privately-help business incubator headquartered in Singapore, working in collaboration with the Media Development Authority of Singapore (MDA) and Project:Senso Ltd with a focus on providing seed stage funding, startup advisory and business incubation capabilities for Interactive Digital Media startups in Asia.

Started in December 2006 by Nicholas Chan, ‘the entrepreneur behind the startups’, Nicholas brings over a decade of startup experience to aid new startups along their entrepreneurial journey. Having had the privilege of being the "rst investor, director and mentor in various dynamic Asian startups, Nicholas and his team are committed in assisting entrepreneurs who have the drive, commitment and passion in materializing their ideas and enabling them to soar to greater heights. The services we provide: • Early stage "nancing and business incubator facilities. • Seed capital micro"nancing grant for Interactive Digital Media startups in collaboration with MDA. • Startup advisory, needs assessment and planning. • Hands on assistance in management, marketing and technology implementation. • Technology development. • Community supported mentorship scheme in partnership with Project:Senso Ltd.

Singapore O!ce Nicholas Chan, Executive Director Tel: (65) 9488 9683 / Sim Lim Tower, #17-02 & Partner (60) (0) 18388 5695 10 Jalan Besar Soon Choo Teck, Partner Lim Eu-Ginn (Malaysia): Singapore 208787 Lee Keh Sai, Partner Tel: (60) (0) 16902 1780 / Tel: (65) 6296 5113 / 9488 9683 Loi Der Liang, Partner – Malaysia (65) 8266 2423 Fax: (65) 6293 2669 Email: [email protected] Contact Person Management Nicholas Chan (Singapore): Portfolio Companies in the Media Sector Include e994 Location Based Service that employs targeted crowdsourcing into the Emergency Services sector, allowing for rapid emergency response from the ground Events Core Seamless, integrated (aka Wufoo.com) multiplatform “on-demand” professional event management and ticketing capabilities to the “the man on the street” Fusion Ads Mobile usage analytics system with an initial focus to track user response to Mobile Ads Gamemo World’s "rst secure Over The Air “free-to-try-full-versions, buy only when you are satis"ed” mobile applications and games sandbox platform Hibernator “Cloud Personal Computer” provider, allowing users to hibernate their work and programs on their desktop into the internet, and seamlessly restoring them onto any other computer LionXplorer Location Based Service with its core competency in decentralized bluetooth networks LocAsian Location Based Service enabler, providing 3-dimensional location data to LBS applications Networks MyWobile Location Based Service gaming and advertising framework provider in ubiquitous real-virtual (a.k.a. MobileWorld) world interaction and gaming via mobile phones TalentVision Web 2.0 microjobs platform that enables anyone to provide and procure microjobs across various platforms (ie. Facebook, Friendster, Blogs) Who Works Around Singapore’s "rst online community for single working professionals featuring Location Based You matching that connects people working around their vicinity Media Entrepreneur’s Guide to Singapore 89 Equity Funding Sources: Angel Funding

Expara IDM Ventures Expara IDM Ventures (EIDMV) is a virtual business accelerator for start-up and early stage companies in the interactive and digital media industry in Singapore. It partners with venture capitalists, angel investors, institutions of higher learning, research institutes and government agencies to identify promising companies to incubate, mentor and invest in. EIDMV is one of the private companies approved as a mentor in the i.JAM Micro-!nancing scheme, an initiative of the IDM R&D Programme O"ce (IDMPO).

Singapore O"ce Management Contact Person One George #17-05 Douglas Abrams, Managing Director Kimberley Ong, Associate One George Street Email: [email protected] 049145 Singapore Tel: (65) 6435 5295 Website: www.expara.com

Portfolio Companies in the Media Sector Include

First Meta Leading provider of !nancial services for virtual economies www.!rstmeta.com Ikatoo Advanced advertising solutions for virtual worlds www.ikatoo.com Kalypso Agency Full-service provider of market information on virtual world behavior www.thekalypsoagency.com 2C2P Plug and play payment system that e#ectively processes micropayments, and transacts www.2c2p.com in both real and virtual currencies Jami! Uniquely interactive sound engine allowing users to customize sound content for www.jami!. com computers, mobile phones, or media productions The Movie Mall Auction site and reference guide for branded content in !lms www.themoviemall.com Sovr One-stop online shop for global travelers looking to plan, evaluate, and book vacation www. planetabroad.com trips Wild!re China’s !rst word-of-mouth community www.wild!re.asia Phokki Online creative media marketplace and social network connecting media artists with clients from all over the world iDreamin Virtual platform that allows digital media artists to creat share, manage and sell their portfolios online

90 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding

Frontedge Capital Frontedge Capital has been created to service the Singapore start-up community. We are focused on the Interactive Digital Media space, in particular mobile and web 2.0 applications. We invest in and mentor companies, helping them kick-start their business by providing the infrastructure for these startups to succeed. This include business and technical advice, access to capital, connections to networks in Singapore, as well as access to resources globally.

Frontedge works hand in hand with our portfolio companies throughout the early stages of each company’s lifecycle. We do a thorough review of the product focusing on value proposition, revenue model, and scalability. We help our portfolio companies re"ne their marketing strategies, and continue tweaking all of the above aspects through product launch. We also introduce our companies to investors and provide coaching and preparation in seeking additional funding.

The most important element of our screening criteria is the team. We look for teams of 2-4 members who have the passion and dedication to create something great, and with the technical capabilities to execute towards this. They must have the willingness to learn and adapt, and the perseverance to work through obstacles.

Singapore O!ce Management Contact Person #05-01 37 Lorong 23 Kenneth Li, Managing Director Kenneth Li, Managing Director Singapore 388371

Portfolio Companies in the Media Sector Include

Fresbo Fresbo is a 2.5d virtual world where people can create and customize avatars & rooms, and www.fresboworld.com socialize real time with other users. It is playable across all the popular social networks, and is embeddable as a widget into blogs and websites. vWorlds vWorlds allows partners to easily create customized white-label virtual worlds. Common Stu#s Common Stu#s allows people "nd activities and events to do around their area, as well as people to do it with by matching people with common interests. Sephyr Sephyr enables widget creators monetize and distribute their widgets by leveraging social based advertising. Foldable Foldable is a marketplace for papercraft goods. Users can upload and sell their designs, build upon and mash up others’ designs, and order the printed papercraft.

Media Entrepreneur’s Guide to Singapore 91 Equity Funding Sources: Angel Funding

NUS Enterprise and the Garag3 Incubator and hackspace for entrepreneurs and mad geniuses. Includes funding and guidance.

The Garag3 is simply a hackspace + microfunding scheme designed for entrepreneurial technologies futurists and new media visionaries to help turn their ideas into a commercial reality. Garag3 aims to be an engaging space where culture is collaborative and creativity can be unimpaired and unhindered.

It’s all very simple.

All projects start with a little hacking, so here at the Garag3, we’ve also provided a Free Shared Hackspace for those who just need a little place to sit down and work that code. Naturally, expect all the hacker comforts like ca!eine, food, and the all important power and WiFi.

If your project outgrows the Hackspace, simply submit your proposal or executive summary to apply for funding. And if the big boys at the top like your project, you’ll be given a nice, shiny, new o"ce right next to the other startups!

The Garag3 incubator is an NUS Entrepreneurship Centre initiative to help nurture ideas and companies in the Interactive Digital Media space in Singapore. With the aim of becoming the leading boiling pot of innovation in Singapore and the South East Asian region, the Garag3 incubator provides the necessary funding, great mentorship, engaging family of fellow entrepreneurs and awesome community events!

Singapore O"ce Management Contact Person NUS Enterprise Incubator Optimatic Pte Ltd Koh Jit Siong 8 Prince George’s Park Email: [email protected] Singapore 118407

92 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding

NTU Ventures NTU Ventures Pte Ltd, a wholly owned company of the Nanyang Technological University, operates in support of the University’s mission to promote technology transfer and entrepreneurship.

Through the iJAM Microfunding Scheme, we support enterprising individuals to realize their dream of developing interactive digital media projects that are both creative and novel with the potential to an create impact to the world at large.

Singapore O!ce Contact Person 16 Nanyang Drive #01-110 Mr Frankie Lee, Director of Business Innovation Centre Tel: (65) 6794 6578 Singapore 637722 Tel: (65) 6794 3855 Fax: (65) 6795 7353 Email: [email protected]

Portfolio Companies in the Media Sector Include

Qweki Community driven portal that integrates popular features through an integrated search platform ReadySnap Online digital content capturing, creation and publishing tool CoFlash Real time collaborative design tool to support multiple geographically dispersed people collaborate in the creation of digital media over the internet Comiqs Web based tool for user creation of comic strips online Mobix Secure Innovative phone recovery and data protection service with GIS visualization tool X-Tech Rapid 3D Model texture stitcher TechnoComics Platform for comic development Studio iConnecte Online business networking portal Emeeto Conferencing using Flash - "rst choice for meeting online

Media Entrepreneur’s Guide to Singapore 93 Equity Funding Sources: Angel Funding

Singapore Infocomm Technology Federation (SiTF) SiTF Mentorship Programme (SMP) is a unique industry mentorship programme that will enable individuals or start-ups to embark on research and development as well as Proof of Concept (POC) for their innovative ideas in the Digital Media arena. The SiTF Mentorship Programme (SMP) is primarily an industry e!ort that will require collaborations with various industry partners/groups, IHLs and government to make possible.

The objective of the SiTF Mentorship Programme (SMP) is to facilitate a vibrant and conducive environment to ‘nurture’ Interactive Digital Media ideas / applications. This programme rides on top of MDA’s iJam micro funding scheme and funds up to $50k per innovative idea in the area of digital media. The programme allows individuals or the industry to bring ideas, leverage on an industry led platform to take these ideas from conceptualisation, to proof of concepts, and ultimately progress towards possible commercialisation.

By building the industry-led platform, the programme will seek to bring many bene"ts, including access to support funding, from the government and possibly the industry and more importantly, the access to industry mentors from the pool of industry partners in the DMC.

Experience & Expertise Industry expertise & mentorship Compared to the typical i.JAM incubator (for ideas), SMP is not just an ‘assignment’ of a mentor to the each idea / project. As an industry body, the DMC of SiTF is able to reach out to all the key leading industry leaders in the various components of the value chain including content creators, technology providers, distributors, value- added service providers etc. This access to the industry expertise will make the SMP a very attractive programme to applicants.

IP / Technology access & development The SMP O#ce could possibly provide IP / Technology access for the incubatees in terms of software and hardware infrastructure for the development of their ideas.

Commercialisation opportunities With the wide spectrum of members, SMP can also come in to help enable and commercialise successful ideas during the development phase.

For more information, please visit: www.sitf.org.sg

Contact Person Tel: 97969628 Singapore Infocomm Technology Leo Email: [email protected] Federation Business Director Tel: 63259705 Singapore Infocomm Technology Shin Email: [email protected] Federation Industry Development Manager

94 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Angel Funding

Stream Global Stream Global helps Start-ups and Small Medium Enterprise clients to improve their long term strategies and business model, seize opportunities and increase revenue in the ASEAN markets. Our services include: • Determining the best long term strategies and business models going forward by putting in place processes that will track the progress of the implementation of the new strategies • Determining the best operational processes and procedures to maximize value of our clients • Determining the best method to raise fund with the maximum valuation for our clients • Assisting in regional expansion for better market penetration of our clients’ products and services • Forming new operations on behalf of our clients in Singapore for regional market penetration • Assisting in partnering and joint-venture developments in Singapore

Singapore O!ce William Liu, Chairman & Managing Partner 50 Genting Lane #07-05 Partner Email: [email protected] Cideco Industrial Complex Chak Koong Soon, CEO & Managing Singapore 349558 Partner Investment Size Tel: (65) 6836 4655 Neoh KC, Managing Partner S$250K – 1.5M Fax: (65) 6836 4658 Billy Shum, Managing Partner Website: www.stream.sg Investment Stage Early Stage (Seed to Series A) Year Founded 2006 Contact Person Management Chak Kong Soon, CEO & Managing

Portfolio Companies in the Media Sector Include

E1 Studio Animation Studio start-up with high-end design talents based in Singapore and its mass www.e1.sg production delivery center in Philippines with key focus in Animation, Interactive Games, Virtualization, Internet Media. Syqic Capital Asia Regional Broadband /IPTV company currently based in Malaysia (MSC) with key focus on www.syqic.com Broadband/IPTV Content Services & Broadcast Solutions based on proprietary intellectual property owned by the company. It already has customers in Malaysia, Indonesia and Singapore and the Middle East.

Media Entrepreneur’s Guide to Singapore 95 Equity Funding Sources: Angel Funding

Thymos Capital Thymos Capital LLP is a private business incubator which focuses on mentoring, seeding and creating successful Interactive Digital Media startups in Singapore with unique competitive advantages – sustainable businesses that are fundamentally sound and !nancially viable when they leave our incubation process.

We provide real mentorship at the initial startup stage when they are typically most vulnerable. Speci!cally, we provide hands-on management assistance, product strategy, marketing and press relationship, access to !nancing and orchestrated exposure to critical business or technical advisory, via our extensive networks of business partners, technologists, venture capitalists and press contacts.

We work with passionate and independent entrepreneurs who want to do a real start-up and know what they are getting into. We believe that serious founders who actively seek counsel on what it takes to scale their business successfully in the digital space are the best people to work with us. We take a long-term view in all our investments. We prefer to focus on nurturing promising startups over the long term. Typically a mentorship can last as short as 3 months, but in some cases, we will help a worthy start-up to reach next round funding and beyond.

Singapore O"ce Management Contact Person The Sail @ Marina Bay Zacchaeus Boon, Partner Gwendolyn Tan, Partner 2 Marina Boulevard #06-09 Dr Bernard Leong, Partner Singapore 018987 Gwendolyn Tan, Partner Email: [email protected] Boon Leong Yap, Partner

Portfolio Companies in the Media Sector Include

Elasticity Develops a proprietary platform using technologies of motion capture, volumetric displays, and www. elasticity.sg media delivery system Media and Entertainment for the market. Eteract Asia’s !rst online speed dating and activities site for singles. www.eteract.com iHipo Combination of a jobsite and a social network focusing on the niche of international jobs and www.ihipo.com internships for International High-Potentials. MotionElements MotionElements is an online marketplace for users and suppliers of digital assets. www.motionelements.com Oghma Provides bluetooth media broadcast infrastructure to seamlessly allow interactivity between the www.oghmamedia.com advertiser and consumer. Phlook Photo-sharing website that creates better ways to organize and manage photos, increases the www.phlook. com desirability and publicity of photos. SharedCopy New form of web annotation, allowing users to markup and annotate any website using AJAX www.sharedcopy.com technology with a simple bookmarkelet. TimeVoyager 3D online gaming Versonic Creates new software to enhance audio real time for mixer consoles. Widgeo.us Provides a central GUI-driven platform for users to create multi-platform connections, thus www.widgeo.us increasing accessibility of digital-real world communications.

96 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Private Equity Funding Private Equity Funding

Crest Capital Asia Crest Capital Asia is an established regional private equity $rm that specializes in underserved, mid-capitalization enterprise markets. We target companies in the region with proven business models, in particular those which had built intellectual properties or developed knowledge products. At Crest, we empower these $rms to realize their enterprise value through our structured Value Enhancement approach. Since 1987, our team members have successfully supported more than 30 regional initial public o%erings and M&As across the ASEAN countries and North Asia. Crest’s fund investors include Government agencies, $nancial institutions, corporations, and family o!ces.

Crest targets investments in companies that have: • Experienced, Positive, Dynamic and Transparent Management Teams • A Successful Track Record • Predictable Cash Flow • Clearly De$ned Business Strategy

We invest in enterprises from a wide range of industries including manufacturing, value adding services/processing, communication, software, engineering, consumer products, oil & gas, etc. Our investments are structured as subordinated debt, preferred stock, common equity, or a combination of creative $nancial instruments, customized to meet the $nancial and capitalization requirements of the company. As an investment policy, we require active participation in the investee’s business.

The Enterprise Fund, one of Crest-managed funds, is sponsored by IE Singapore and invests primarily in Singapore- based SMEs. It specializes in supporting the international moves of SMEs via its funding as well as value-added resources from IE Singapore’s global network of o!ces. The Fund invests up to S$10M per project.

Singapore O!ce Shanghai O!ce 50 Ra"es Place #34-03 Jing Qiao Blgd. #2077 Singapore Land Tower Unit 703 YanAn Road Singapore 048623 200336 China Tel: (65) 6533 2002 Tel: (8613) 8288 10063 Fax: (65) 6532 2002 Management Jakarta O!ce Peter Chan, Managing Partner Plaza ABDA 23rd #oor Angela Tan, Investment Principal Jalan Jend. Sudirman Kav. 59 Glendon Tan, Investment Principal Jakarta 12190 Indonesia Tel: (6221) 5140 1133 Contact Person Fax: (6221) 5140 1599 [email protected]

Media Entrepreneur’s Guide to Singapore 97 Equity Funding Sources: Private Equity Funding

Green Mountains Investments Pte Ltd Green Mountains Investments is a boutique investment !rm with investments in a variety of asset classes ranging from private equity to pre-IPO !nancing to listed equities. The Company invests mainly in companies based or listed in Southeast Asia, where it has established a good network of contacts.

Singapore O"ce Management Investment Size 19A Ang Siang Hill Joel Lin, Founder & Partner Up to US$5M Singapore 069699 Contact Person Investment Stage Year Founded Joel Lin, Founder & Partner Early – Pre-IPO 2006

Portfolio Companies in the Media Sector Include

Imagine Omnimedia Pte Ltd Singapore-based TV production company specializing in high grade content suitable for global distribution. First major production was The Contender Asia which was produced in Singapore and distributed to the US, Europe and Asia.

98 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Private Equity Funding

Henderson Equity Partners Henderson Equity Partners is the private equity operation of Henderson Global Investors, an international fund management business which manages US$104.7 billion on behalf of its clients in asset classes including equities, "xed income, hedge funds, property, and CDOs. Henderson Equity Partners has approximately US$2.5 billion under management across its Asian, Infrastructure, and Fund of Funds businesses and has o!ces in Singapore, New Delhi, Hong Kong, and London.

Henderson Equity Partners’ Asian team invests in fast-growing, market leading companies which are bene"ting from increasing Asian consumer incomes or leveraging their cost competitiveness and expertise on the world stage.

Singapore O!ce Vishal Marwaha , Senior Partner, Asia Investment Size 6 Battery Road, #12-01 Private Equity US$10 – 50 million Singapore 049909 Tel: (91) 11 2430 4028 Tel: (65) 6836 6175 Email: Investment Stage Fax: (65) 6223 3536 [email protected] Late stage / expansion capital

Management Contact Person Roger Greville, Managing Partner, Rahul Bhargava, Principal, Asia Private Private Equity Equity Tel: (44) 20 7818 3153 Tel: (65) 6836 0891 Email: Email: [email protected] [email protected]

Portfolio Companies in the Media Sector Include

Hindustan Times HT Media Limited is India’s second largest integrated media company with a strong presence in print media, radio, internet and events. It is the leader in print media in North India with o#erings in English (Hindustan Times), Hindi (Hindustan), a business paper (Mint in association with the Wall Street Journal) and a tabloid (Metro Now). The company also o#ers radio (Fever 104 FM) in four major cities where it has signi"cant market share. The company has invested in a strong Internet presence, where in addition to the online versions of its print editions, the company has a job portal (shine.com) and a social networking site.

Media Entrepreneur’s Guide to Singapore 99 Equity Funding Sources: Private Equity Funding

Hina Capital Partners Hina Capital Partners (HCP), the private equity unit of Hina, focuses on investing in China oriented Technology, Media and Telecommunications (TMT) related opportunities in China and the United States.

HCP will focus the majority of its funds on China based companies, and a smaller portion on US based companies with products and services relevant to the China market. In China, HCP will lead invest in pro!table companies across all stages. Our investments will possess the following attributes: • Address a large and growing market opportunity • Strong management team with track record of success and integrity • Business with sustainable competitive advantages • Strong top-line and bottom line growth • Pro!table and capital e"cient • Attractive valuation

In the US, we will invest along-side leading US investors and will leverage our extensive China platform to assist such companies to expand into China. In all cases, HCP will be a proactive investor. We work inpartnership with each of our portfolio companies to add value by: providing strategic insights, bringing in management best practices, assisting with globalization initiatives, and accessing !nancings and other liquidity channels. HCP will leverage the full resources of the Hina Group to create value, whether it is in ‘internationalizing’ a locally oriented China based company or assisting a US company to grow in China through M&A.

HCP’s conservative investment philosophy and disciplined investment process is based on years of investment, and operating experience by the HCP senior management team in the China region. We believe this approach in combination with our global business relationships and experience and cross-border Investment Banking platform will help generate extraordinary returns for our partners.

Singapore O"ce Management Contact Person 16 Collyer Quay #10-00 Dr. Hong Chen, Chairman & CEO Vamsi Reddy, Associate Hitachi Tower Tahn-Joo Chin, Managing Director Email: [email protected] Singapore 049318 – Singapore Tel: (65) 6622-0755 Investment Size Fax: (65) 6622-0757 US$2-20M

Portfolio Companies in the Media Sector Include

Framedia Largest In-Elevator Advertising Company in China Inno!dei China’s Leading Mobile TV Chip Provider Chineseall.com China’s Largest E-Books Provider Huada Infosec China’s Leading Information Security “Core Technology” Provider Entertainment Chain China’s Largest Entertainment Chain Operator (name yet to be disclosed)

100 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Private Equity Funding

Mercatus Capital Mercatus Capital Pte Ltd is a boutique private equity "rm specializing in the emerging technologies, bio-tech, retail and energy industry. Mercatus Capital believes that strategic diversi"cation across a wide range of industry sectors is a major contributor to the long-term, superior investment record achieved by Mercatus Capital.

Our services extend across a diverse range of areas, including Public and Private Equity, Mergers and Acquisitions, Corporate Restructurings, Financial Advisory, Initial Public O#erings and Strategic Partnerships. Mercatus Capital believes in providing value-added services to client and portfolio companies to further ensure their success to achieve rapid growth and attain high market valuations.

Mercatus Capital is generally diverse in nature - it invests across industries using a variety of investment strategies and professional guidance from its strong management team.

The interests of our clients are best served by our dedication to success and excellence.

Singapore O!ce Management Contact Person 45 Kaki Bukit View Ravindran Govindan, Executive Willie Foo, Vice-President Kaki Bukit Techpark II Chairman Tel: (65) 6747 1987 ext 406 Singapore 415971 Victor Chan, Director – Banking & Tel: (65) 6747 1987 Finance Investment Size Fax : (65) 6747 0733 Khoo Kee Cheok, Director – Banking & Initial Stage - 500,000 – 2.5 million Email: Finance Beta Stage – 3 -6 million [email protected] Investment Stage Conceptual and Initial Setup

Portfolio Companies in the Media Sector Include i-Flapp Apps-D Application Mobility Technology

Media Entrepreneur’s Guide to Singapore 101 Equity Funding Sources: Private Equity Funding

Pierce & Pierce Group Our group activities span across many investment and operating areas and geographic locations. From New York to San Francisco, from London to Singapore, as a core, when you think Pierce, you should be thinking global investment. The only boundary we have is the amount of money we will invest, or have to invest at any given time.

Pierce is a global equity investor that provides equity and mezzanine capital !nancing to private and public companies. We invest throughout the entire life cycle of the business development process. Our investment mandate permits maximum "exibility in supporting the equity needs of businesses worldwide. Pierce seeks to cooperatively create a capital structure that is acceptable to all transaction participants with respect to each party’s relative risk/return attributes.

Singapore O#ce US$1 – 20M 8 Shenton Way #42-02 Singapore 068811 Tel: (65) 6220 7970 Fax: (65) 6220 7656 Email: [email protected] Investment Size

102 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Private Equity Funding

SEAVI Advent Private Equity SEAVI (South East Asia Venture Investment) Advent is one of the "rst private equity and venture capital "rms to operate in the Asia Paci"c region. Since 1984, we have invested over US$ 300 million into more than 100 Asian companies, from early to late stage, as well as buyout and control transactions. In Southeast Asia, we have successfully helped several of our portfolio companies strengthen their business positions through initial public o#erings on the stock exchanges of Singapore, Malaysia, Thailand, Indonesia and Philippines.

SEAVI Advent is the Asian a!liate of Advent International Corporation - one of the world’s largest and most experienced global private equity "rms, based in Boston, USA, with US$6 billion under management and 14 o!ces and 10 a!liates in 25 countries. Since its founding in 1984 by industry pioneer Peter A. Brooke, Advent International has invested in over 500 private companies in selected growth industries across Europe, North America, Latin America and Asia. These include 130 major Initial Public O#erings (IPO) on the major stock exchanges worldwide.

Singapore O!ce Management Contact Person 331 North Bridge Road #05-04/05 Tan Keng Boon, Managing Partner How Boon Kwee Odeon Towers, Singapore 188720 Derrick Lee, Managing Partner Tel: (65) 6339-9090 Hoe Boon Kwee, Partner / CFO Investment Size Fax: (65) 6339-8247 Teo Yi-Dar, Partner US$5-20M Email: [email protected] Kevin Chan, Partner Henry Yao Wei Min, Partner Investment Stage Late stage, growth expansion / pro"table

Portfolio Companies in the Media Sector Include

CCT Telecom Telecommunications and IT products and services (Hong Kong) Teledata Voice, data and video communications equipment (Singapore) Interactive Technology Telecom network software solutions Holdings (Hong Kong)

Media Entrepreneur’s Guide to Singapore 103 Equity Funding Sources: Private Equity Funding

Standard Chartered Private Equity Standard Chartered Private Equity (SCPE) provides a professional shareholding partnership to companies that require equity funding for expansion, or to !nance changes of ownership such as acquisitions or management buy-outs. Our investee clients gain capital for growth and bene!t from strategic !nancial advice and Standard Chartered Bank’s international network.

We invest in mid- to late-stage companies evidencing positive cash "ow that are in need of expansion capital, and in management buy-outs. We will invest from USD10 to over USD50 million in a single transaction, with a preference for deals of greater than USD25m. We will consider investments across a range of industries. Our objective is to see value and liquidity delivered within a !ve-year period. We target businesses whose principal operations and management are located in Greater China, Korea, South East Asia or India.

Singapore O#ce Andrew Dawson, Ravinder Singh, Director 6 Battery Road Chief Operating O#cer Email: ravinder.singh@ Singapore 049909 Email: andrew.dawson@ standardchartered.com Tel: (65) 6228 3455 standardchartered.com Investment Size Management Nainesh Jaisingh, Managing Director US$10 to over US$50M Alastair Morrison, Managing Director Email: nainesh.jaisingh@ Email: alastair.morrison@ standardchartered.com Investment Stage standardchartered.com Expansion, Pre-IPO, Management buy- outs

104 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Private Equity Funding

Sycamore Ventures Sycamore is a global investment #rm with o!ces in the US, China, India, and Singapore. Collectively, our investment professionals have well over 100 years of investment experience, have invested in more than 100 companies, served on the boards of directors of over 75 companies, taken more than 20 companies public and sold or merged over 40 companies. Funds under our management invest in the US, the greater China region, and India.

Often, our portfolio companies leverage our #nancial and operational expertise, entrenched relationships in global capital markets, active investment portfolios and investment activities to accelerate business development, #nancial restructuring and M&A.

Singapore O!ce Tel: (1) 408 973 7861 John Whitman, Managing Partner 3 Anson Road #35-03 Springleaf Tower Princeton O!ce Contact Person Singapore 079909 Tel: (1) 609 759-8888 Jerry Sze, Managing Partner – Asia Tel: (65) 6535-0112 Website: www.sycamorevc.com New York O!ce Investment Size Tel: (1) 212 247-4590 US$3 – 10M Shanghai O!ce 1st "oor, 284 Anfu Road, Management Investment Stage Shanghai 200031, China Peter Gerry, Managing Partner Expansion / Late Stage Tel: (86) 21-5405-1313 Seth Pierrepont, Partner Ravi Singh, Partner Taipei O!ce Jerry Sze, Managing Partner – Asia Tel: (886) 2-2735-4682 Kilin To, Managing Partner California O!ce Dr. Jonas Wang, Partner

Portfolio Companies in the Media Sector Include

Cellink Co. Developer and manufacturer of bluetooth / RF peripheral products and LCD Display product. Headquartered in Taiwan DVN Holdings Leading provider of complete end-to-end digital broadcasting solution to the CATV operators. Listed on HKSE. eAccess A leading xDSL and broadband solutions provider. Headquartered in Tokyo, Japan. Global Sun ODM (Original Design Manufacturer) and OEM (Original Equipment Manufacturer) company for Technology various wireless products. Acquired by D-Link. International Largest Asian broadcast programmer in California and Hawaii. Headquartered in California. Media Group Landune Nationwide TV shopping and distribution network operator in China. Listed on HKSE. International Net263 Holdings Leading provider of next generation integrated communication services in China. Integrates Internet and telecom technology to provide services such as e-mail, VoIP, SMS, IM, and broadband Internet access. Redgate Media Leading integrated media and entertainment company in China.

Media Entrepreneur’s Guide to Singapore 105 Equity Funding Sources: Corporate Investors Corporate Investors

MediaCorp MediaCorp is Singapore’s leading media company with the most complete range of platforms, spanning television, radio, newspapers, magazines, movies and digital media.

It pioneered the development of Singapore’s broadcasting industry, hitting the radio airwaves in 1936 and beaming the !rst TV pictures in 1963. Today, MediaCorp has over 55 products in four languages (English, Mandarin, Malay and Tamil), that reaches to all adults in Singapore each week.

Among them are industry !rsts such as the !rst in the world to use Digital Video Broadcast technology for outdoor digital television, and Asia’s !rst Digital Audio Broadcast radio service. Initiatives in the digital space include a highly successful online classi!eds, Internet TV-on-demand and High De!nition TV broadcast.

Beyond Singapore, the diversi!ed group is making its presence felt through co-productions in TV dramas and movies, magazines publishing, as well as Channel NewsAsia International, the only Asian owned English news channel.

In 2007, it entered into a !nancial and strategic relationship with Indonesia’s most integrated media company PT Media Nusantara Citra and its parent, Global Mediacom. MediaCorp has a stake in Nanjing-based Dahe Media Pte Ltd, a leading Chinese outdoor advertising !rm, and International Media Corporation in Vietnam, set up to develop and produce entertainment and economic news content as well as to provide channel management services.

Winner of numerous international awards and accolades including Asia Television’s Broadcaster of the Year, MediaCorp’s vision is to become Asia’s top media company, delivering valued content to the world.

Singapore O"ce Management Contact Person Caldecott Broadcast Centre Lucas Chow, CEO Anthony Fu, Senior Manager - Andrew Road Yeo Mui Sung, CFO Technologies Singapore 299939. Mock Pak Lum, Managing Director Tel: (65) 6357 5687 Tel: (65) 6333 3888 - Technologies Email: Fax: (65) 6251 5628 [email protected] Website: www.mediacorp.sg Investment Stage Open

Portfolio Companies in the Media Sector Include

PT Media Nusantara Citra Indonesian media company encompassing content production, content distribution, nationwide television networks, television program channels, newspaper, tabloid, and radio networks. Dahe Media Pte Ltd Chinese outdoor advertising !rm. International Media Joint venture in Vietnam to develop and produce entertainment and economic Corporation news content as well as to provide channel management services.

106 Media Entrepreneur’s Guide to Singapore Equity Funding Sources: Corporate Investors

Singapore Press Holdings Print: In Singapore, SPH publishes 14 newspapers in four languages. Every day, 2.9 million individuals or 81 percent of people above 15 years old, read one of SPH’s news publications. SPH also publishes and produces more than 100 magazines titles in Singapore and the region. In addition, the company holds a 40 percent stake in MediaCorp Press Pte Ltd which publishes free newspaper Today.

Internet and New Media: SPH’s presence on the Internet includes the online editions of its key newspapers, which together enjoy over 150 million pageviews with 9 million unique visitors every month.

Television: SPH continues to maintain a business interest in free-to-air television with a 20 percent shareholding in MediaCorp TV Holdings Pte Ltd which operates channels 5, 8, U and TV Mobile.

Radio: Through an 80 percent-owned joint venture company, SPH UnionWorks, SPH operates two entertainment radio stations, Radio 100.3 in Mandarin and Radio 91.3 in English.

Outdoor Media: SPH has ventured into outdoor advertising through its wholly-owned subsidiary, SPH MediaBoxO!ce (SPHMBO), Singapore’s largest outdoor motion display advertising network media company.

Property: SPH owns and manages Paragon, the prime retail and o!ce complex in the heart of Orchard Road, Singapore’s main shopping belt.

Singapore O!ce Contact Person Investment Size 1000 Toa Payoh North, News Centre Deborah Lee, EVP - Corporate Signi"cant Minority to Full Acquisition Singapore 318994 Development Division Tel: (65) 6319 6319 Email: [email protected] Website: www.sph.com.sg Email: [email protected]

Portfolio Companies in the Media Sector Include SPH Media Box O!ce Singapore-based leading player in the digital outdoor advertising space. Hardwarezone.com Singapore-based publisher of IT and lifestyle magazines & manager of its online portals. Blu Inc Media (HK) HK-based publisher of luxury title magazines. TOM OMG China-based company in the outdoor advertising space.

Other New Media Initiative Include ZapCode Revolutionary mobile advertising and information service. ST701 Online recruitment and job search service. Rednano Local search and directory engine. Search701 Search services company for the Asia Paci"c region. STOMP Portal that connects, engages & interacts with readers on the Web & via mobile phone messaging. Omy Bilingual news and interactive portal. The Straits Free access interactive webcast service o#ering live chat shows and video on demand clips Times RazorTV

Media Entrepreneur’s Guide to Singapore 107 Special Funding Sources: Specialized Content Funds Specialized Funding Sources Specialized Content Funds

In!nite Frameworks Production Fund VOOM HD Holdings LLC, which distributes VOOM HD Networks, the world’s largest suite of high-de!nition programming, and In!nite Frameworks (IFW), have sealed a deal to co-produce and distribute up to $20 million worth of high-de!nition programming over the next !ve years. VOOM and IFW will each invest up to $10 million in production and post-production activities. The parties will collaborate with top production companies from around the world to create !rst-rate programming in genres as diverse as sports, art, lifestyle, fashion and music. All post-production on these projects will take place at IFW’s facilities in Singapore.

“In!nite Frameworks has the distinct position to be VOOM HD Networks’ co-production collaborator in the Asia Paci!c region. This exceptional opportunity will enable In!nite Frameworks to add further value not only in the visual e"ects and post production areas but also to contribute as an executive producer, producer and distributor of world class high-de!nition content for a global audience,” said Mike Wiluan, Managing Director, In!nite Frameworks. “We are looking forward to working on this strategic long-term relationship with VOOM on a variety of content from documentaries, animation to feature !lms and we shall strive to give the very best of the East to the West.”

In!nite Frameworks is supported by the Media Development Authority of Singapore (MDA).

Singapore O#ce Management Contact Person 28 Bukit Pasoh Road Mike Wiluan, Managing Director Yenn Teo, Executive Producer / Creative Singapore 089842 Head Tel: (65) 6222 7888 Tel: (65) 6326 4386 Fax: (65) 6227 7557 Email: [email protected] Email: [email protected] Website: www.frameworks.com.sg

Media Entrepreneur’s Guide to Singapore 109 Specialized Funding Sources: Specialized Content Funds

Mega Media Singapore-Indonesia Digital Film Fund Mega Media Group partnered with MM Insa with support from MDA and Indonesian Directorate General of Film, Arts and Cultural Values to create the Singapore-Indonesian Digital Film Fund. Their digital !lm technology partner is Panasonic, with Six-six-eight as international distributor of completed !lms.

With humble beginnings as a production house, Mega Media has evolved into a complete media management company. It has not only become a leader in innovation in Singapore’s growing media industry but also one of Asia’s leading media companies, covering the entire media content work"ow.

Mega Media’s expertise lie in the area of technological processes and work"ows, and the creation of new business models and opportunities. Moving beyond its original business of media production, Mega Media has expanded into the areas of content management and distribution, media education, digital cinema technical services and international operations. Its multiple business expertise provides excellent opportunities for partnerships with major corporations, !nancial institutions as well as professionals in varied !elds.

Today, Mega Media has become the latest broadcaster in Singapore, and the leading High De!nition Channel provider and producer in the region.

It is Mega Media’s philosophy to create and provide media content that are the vehicles of cultural communication. With this in mind, Mega Media has developed and managed a wide range of projects, all founded on the same basic philosophy of bringing people closer together – through Media.

Singapore O#ce Management 1003 Bukit Merah Central Joshua Hong #07-01 Email: Singapore 159836 [email protected] Tel: (65) 6407 1800 Fax: (65) 6407 1899 Email: [email protected]

110 Media Entrepreneur’s Guide to Singapore Special Funding Sources: Specialized Content Funds

Neo Studios RMB 50M Ra!es China Media Fund Making a major push into China Market is Singapore’s most commercially successful movie director, Mr Jack Neo. Together with Mr Philip Wu, a media entrepreneur previously with Temasek Holdings, the Ra!es China Media Fund aims to invest in promising "lm and TV projects which has strong distribution potential in the China and Chinese diaspora market. The fund had made several commercially successful investments since 2008. With an initial funding of S$10 million or RMB 50 million, the Ra!es China Media Fund will support the co-investment and co-production of "lms and TV media for distribution in China. The Fund had been in collaboration with major partners from China, Taiwan, Malaysia and Hong Kong.

Singapore O#ce Management Contact Person 113 Somerset Road Jack Neo, Chairman [email protected] Level 1, *scape Youth Centre Philip Wu, Managing Director Singapore 238165 Ho Hee Ann, Creative Director Tel: (65) 6738 1349 Email: [email protected]

Media Entrepreneur’s Guide to Singapore 111 Specialized Funding Sources: Specialized Content Funds

RGM Entertainment US$400M RGM Financing Facility RGM Entertainment has announced the creation of a !nancing facility to fully fund up to US$400 million worth of projects over four years.

The slate consists of commercial English language !lm and television projects for global distribution. RGM is currently executive producing the sequel to ‘Point Break’, entitled ‘Point Break 2’, which Jan De Bont will direct. Previously produced projects out from RGM Entertainment include ‘Winged Creatures’ starring Forest Whitaker and Kate Beckinsale. RGM plans to !nance at a minimum 2 additional !lms in the US$15-40 m range over the next !scal year.

RGM Entertainment is an integrated executive production and talent management company, headquartered in Singapore. RGM works with producers to develop, package and !nance projects, and to arrange distribution for them. The company was established in 1982 in Sydney, Australia as a talent management company representing actors, writers, directors and !lm makers, including Cate Blanchett, Rose Byrne, John Polson and Mia Wasikowska. In 2005 RGM moved its headquarters to Singapore to source talent and material from the Asian region, as well as to expand its executive production activities.

Singapore O"ce Management Email 61 Stamford Road Devesh Chetty, Co-CEO [email protected] #04-05 Stamford Court Jason Fisher, Co-CEO Singapore 178892 Robyn Gardiner, Chairman Contact Person Tel: (65) 6737 7959 Stephen Clark Fax: (65) 6737 2997 Email: [email protected]

112 Media Entrepreneur’s Guide to Singapore Special Funding Sources: Specialized Content Funds

Salon Media S$100M Integrated Media Fund Salon Media Management, the Singapore-based subsidiary of the Salon Film Group in Hong Kong, has announced the setting up of a SGD 100 million Integrated Media Fund (the IMF Fund) in Singapore.

The IMF Fund will be used to produce a slate of feature !lms, TV series, animation and related interactive game development content over the next !ve years.

It will leverage on Salon’s involvement in the Asia Alliance Partnerships – with partners including Yoshimoto Kogyo, a talent management agency from Japan and Hengdian World Studios, the largest studio facility in China -- to !nance, produce and distribute content from the Asia Paci!c region.

Supported by the Media Development Authority (MDA) of Singapore, the IMF Fund is positioned to become a leading brand name in Asia, o"ering cross Intellectual Property (IP)-platform content creation and media !nancing. It aims to groom talent and production skills in Singapore as well as the Asia Paci!c.

In the long run, the Fund aims to open the door to greater ease and e#ciency for foreign companies seeking to produce motion pictures in Asia.

Head O#ce Management 6 Devon Road John Sim Kowloon Tong Email: [email protected] Kowloon, Hong Kong Tel: (852) 2338 0505 Fax: (852) 2338 2539 Email: [email protected]

Media Entrepreneur’s Guide to Singapore 113 Specialized Funding Sources: Specialized Content Funds

Six-Six-Eight US$40M European-Singapore Co-production Fund The US$40M Europe-Singapore Co-production Fund is managed by 6-6-8’s headquarters in Singapore and supported by the Media Development Authority of Singapore (MDA). Financing for the fund is provided by Standard Chartered Bank’s Creative Industries division.

This fund has been set up with the intention of matching leading European and International producers and broadcasters with their Singapore-based counterparts, to work together on internationally viable media projects. The fund will be involved in 10-12 live-action and animation projects.

6-6-8’s core business areas are Programme Sales, Channel Distribution and International Co-productions. 6-6-8 has previously, together with its founding partner Mega Media, produced the !rst ever French-Asian Television Co-production ‘Déjà vu’. This 26-part TV series valued at USD$4.1 Million was co-produced with leading French production company Project Images Film and French broadcaster France 2.

Productions completed in the !rst half of 2008: ‘Wherever You Are’; 100’ - coproduction with Italy Produced by Rai Fiction, Film Master Group and 6-6-8 with the support of MDA Singapore, in association with Beta Film ‘Love in the Lion City’; 90’ – coproduction with Germany Produced by Ard Degato, Smeaton Entertainment and 6-6-8 with MDA Singapore in association with Beta Film

Third project to be produced under the Europe-Singapore coproduction fund will be the feature !lm Tiger Team, coproduction with ndF – Germany. Other projects currently in discussion are with partners such as UFA Production (Germany), De Angelis Group (Italy), Project Images Films for the second season of Déjà vu (France).

Since its introduction to the global market, 6-6-8 has closed deals across the world, having placed both European content in Asia, as well as Asian content in the Western world. Today, it represents more than 20,000 hours of content, including the largest HD library from Asia. It also o"ers more than 20 television channels in both standard de!nition as well as high de!nition.

Singapore O#ce Management Patrick Hoare, Vice President – Head of 1003 Bukit Merah Central Samuele Proietti, Head of International Production #03-12, Singapore 159836 Co-Production & Financing Email: [email protected] Tel: (65) 6296 6668 Email: [email protected] Fax: (65) 6407 1854 Joshua Hong, Vice President Contact Person – Production Samuele Proietti Email: [email protected] Email: [email protected] Stefan Knobloch, Managing Director Skype: Samuele668 Email: [email protected]

114 Media Entrepreneur’s Guide to Singapore Special Funding Sources: Market Trading Platform Market Trading Platform

OTC Capital OTC Capital, operated by Phillip Securities Pte Ltd (A member of PhillipCapital) in 2006, is a market making trading platform for the shares of unlisted Singapore companies. It allows these companies to raise funds up to S$5 million dollars in 12 months without a prospectus in a relative cost-e!ective manner. Companies that use OTC Capital to raise funds and allow secondary trading of their shares are only quoted and dealt on OTC Capital and are subject to the admission criteria, continuing obligations and requirements that are set out in the OTC Capital Rules. Typically companies on OTC Capital should have viable business models, scalability and high potential growth.

OTC Capital has a network of registered investors such as individual investors, venture capitalists and private equity "rms. This platform also allows smaller investors to diversify into riskier assets such as unlisted securities and this allows for greater diversi"cation in asset allocation for investors.

For more information about OTC Capital, please visit www.otccapital.com.

Singapore O#ce 250 North Bridge Road, Lee Ban Cheong #06-00 Ra$es City Tower Email: [email protected] Singapore 179101 DID: 65315402

Management Uzia Sng Ong Teong Hoon, Director Email: [email protected] Email: [email protected] DID: 65311605 DID: 62121812 Contact Person Brian Chua, Manager Ong Teong Hoon, Director Email: [email protected] Brian Chua – Manager DID: 65311561 Lee Ban Cheong – Manager

Chai Ee Wah Email: [email protected] DID: 65311691

Media Entrepreneur’s Guide to Singapore 115

Debt Funding Sources: Featured Banks Debt Funding Sources Featured Institutions

DBS Bank DBS is one of the largest !nancial services groups in Asia with operations in 16 markets. Headquartered in Singapore, DBS is a well-capitalised bank with “AA-” and “Aa1” credit ratings that are among the highest in the Asia-Paci!c region.

With an extensive Asia network and in-depth business insights, DBS Enterprise Banking is committed to being a partner of choice to local enterprises in helping them to build their business locally and internationally. Backed by a team of product specialists, we are well-positioned to deliver a whole suite of !nancial products and services to support local enterprises in di"erent industries and throughout their business life cycles. Our product o"erings range from cash management services to loan facilities, trade !nancing and business risk protection instruments which are delivered by our dedicated relationship managers, network of branches and corporate internet banking platform, DBS IDEALTM.

Whether you are planning to start a business, expand your operations or embark on overseas ventures, come and talk to us about the opportunities that will enable you to turn your aspirations into reality.

Types of Debt Funding • DBS Business Loan • Overdraft Facility • Global Business Advantage • Accounts Receivable Purchase (ARP) Facility • Hire Purchase Facility • Commercial and Industrial Property Loan

Government-linked Funding • Internationalisation Finance Scheme (IFS) • Loan Insurance Scheme (LIS) • Local Enterprise Finance Scheme (LEFS) • GROW with DBS (LEFS Microloan) • Power Up with DBS (LEFS Bridging Loan)

Address DBS Hotline (Corporate) Email DBS Bank Ltd 1800 222 2200 (In Singapore) [email protected] 6 Shenton Way (65) 6222 2200 (From Overseas) DBS Building Tower One Website Singapore 068809 www.dbs.com/sg

116 Media Entrepreneur’s Guide to Singapore Debt Funding Sources: Featured Banks

The Hong Kong and Shanghai Banking Corporation Limited (HSBC) Headquartered in London, the HSBC Group is one of the largest banking and !nancial services organisations in the world with an international network comprising of over 9,500 o"ces in 85 countries and territories in Europe, the Asia-Paci!c region, the Americas, the Middle East and Africa.

With listings on the London, Hong Kong, New York, Paris and Bermuda stock exchanges, shares in HSBC Holdings plc are held by around 200,000 shareholders in some 100 countries and territories. The shares are traded on the New York Stock Exchange in the form of American Depositary Receipts.

The HSBC Group’s history in Singapore dates back to 1877 when its founding member, The Hongkong and Shanghai Banking Corporation Limited, opened its !rst branch. Today, HSBC has 12 branches incorporating 6 Premier centres in Singapore. A qualifying full bank, HSBC in Singapore o#ers a comprehensive range of services including personal and commercial banking, investment and private banking, insurance, forfaiting and trustee services, securities and capital markets services.

HSBC is a leading provider of !nancial services to small, medium-sized and middle-market enterprises, and o#ers a full range of banking services to customers, including cash management, insurance, trade services, corporate wealth management, a range of borrowing solutions and corporate e-channels. The HSBC Commercial International Banking Centre is dedicated to helping SMEs with their incoming or outgoing international banking needs.

Types of Debt Funding • Working Capital Financing • Business Property Financing • Receivables Financing • Trade Financing • Fixed Asset Financing

Government-Linked Funding • Local Enterprise Finance Scheme • Micro Loan Programme • Internationalisation Finance Scheme • Loan Insurance Scheme Tranche 3 (LIS3)

Address Tel Website 21 Collyer Quay #14-01 1800 216 9008 (Toll Free Singapore) http://www.hsbc.com.sg/1/2/ HSBC Building (65) 6216 9008 (Overseas) commercial/commercial Singapore 049320 (Main Branch) Email [email protected]

Media Entrepreneur’s Guide to Singapore 117 Debt Funding Sources: Featured Banks

Hong Leong Finance Hong Leong Finance (HLF) is Singapore’s largest !nance company with a wide distribution network of 28 branches. As the SME Specialist with more than 40 years of experience serving the SME market and pioneering in many SME lending products, HLF is the only !nance company here to o"er Business Current Account to its corporate customers and Corporate Financial Advisory services to companies seeking listing on the Singapore Exchange. With our vast experience and expertise in providing a complete !nancial solution, we aim to be the !nancial partner of the SMEs and help them expand their business.

Types of SME Loans • Equipment Financing, Factoring/Accounts Receivable Financing • Insurance Premium Financing Scheme • Inventory Finance • Revolving Working Capital Finance • Trade Finance

Types of Government-linked Loans • Loan Insurance Scheme • Local Enterprise Finance Scheme • Micro Loan Programme • Internationalisation Finance Scheme

Address Contact Number Website 16 Ra#es Quay #01-05 64162777 (Singapore) www.hlf.com.sg Hong Leong Building Singapore 048581 Email [email protected] (0460)

118 Media Entrepreneur’s Guide to Singapore Debt Funding Sources: Featured Banks

Oversea-Chinese Banking Corporation (OCBC) Singapore’s longest established local bank, OCBC Bank currently has assets of S$181 billion and a network of more than 480 branches and representative o!ces in 15 countries and territories including Singapore, Malaysia, Indonesia, China, Hong Kong SAR, Brunei, Japan, Australia, UK and USA. This network includes more than 370 branches and o!ces in Indonesia operated by OCBC Bank’s subsidiary, Bank OCBC NISP. OCBC Bank and its banking subsidiaries o"er a wide range of specialist #nancial services, from consumer, corporate, investment, private and transaction banking to treasury and stock-broking services to meet the needs of its customers across communities.

OCBC Bank’s insurance subsidiary, Great Eastern Holdings, is the largest insurance group in Singapore and Malaysia, in terms of assets and market share, and its asset management subsidiary, Lion Global Investors is one of the largest asset management companies in Southeast Asia.

Types of Financing Commercial & Industrial Property Financing, Equipment & Machinery Financing, Business Receivables Financing, Trade Finance & Services, Business Term Loans

Others Singapore Dollar and Foreign Currency Business Accounts, Payroll & Payables, Receivables, Internet Banking & alternative banking channels (e.g. OCBC BizExpress, O"site Cheque Deposit Services)

Government-linked Funding Micro Loan Program, Bridging Loan, Equipment and Machinery Loan, Internationalisation Finance Scheme and Loan Insurance Scheme

Address Tel Website 65 Chulia Street (65) 6538 1111 http://www.ocbc.com/sme-banking/ #01-01 OCBC Centre main/index.shtm Singapore 049513 (Main Branch) Email [email protected]

Media Entrepreneur’s Guide to Singapore 119 Debt Funding Sources: Featured Banks

RHB Corporate and Commercial Banking

Through our extensive experience in banking, comprehensive knowledge of the local industry, along with our strong network of clients, RHB Bank is set to help you grow your business bigger and better.

We have received many accolades for our service and you can be assured that your banking experience with us will be one of the best in the industry.

Our team of dedicated and experienced Relationship Managers will strive to structure a !nancial package that will empower you with the ability to ful!ll your business goals and needs.

Our team also works closely with our Investment Banking to provide you with an array fund raising options and solutions. Banking is now simpler with RHB Bank.

Types of Debt Funding • Types of Debt Funding • Working capital • International Trade Financing • Term Loans for Commercial & Industrial Property Financing • Project Financing • Vessel Financing • Cross Border Financing & Advisory Services • Banker’s Guarantee/Performance Bonds • Foreign Exchange

Government-Linked Funding • Local Enterprise Finance Scheme • Micro Loan Programme • Bridging Loan Programme

Address Tel: (65) 63232001 90 Cecil Street Singapore 069531 (Main Branch) Email Email: [email protected] Website Tel http://www.rhb.com.sg

120 Media Entrepreneur’s Guide to Singapore Debt Funding Sources: Featured Banks

Standard Chartered Bank Standard Chartered in Singapore is part of an international banking group with an extensive network of over 1,700 branches in more than 70 countries in the Asia Paci!c Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas. Standard Chartered celebrates 150 years in Singapore in 2009 and has a network of 18 branches, 28 ATMs, 23 Cash Deposit Machines and 6 Priority Banking centres.

Your right partner in building successful businesses. At Standard Chartered Bank, we share your vision for business growth. That is why our SME Banking team is committed to supporting you with customised product packages, responsive services and access to expert advice. These cover basic banking needs such as a current account to credit facilities, trade and cash management solutions. With an extensive international network and trade expertise spanning Asia, Africa and the Middle East, we can help ful!ll your business expansion aspirations.

Types of Debt Funding • Cash Management • Trade and Working Capital Financing • Business Installment Loan • Business Overdraft • Online Banking / Straight2Bank and Treasury services

Government-linked Funding • Local Enterprise Finance Scheme (LEFS) • Micro Loan Programme • Loan Insurance Scheme (LIS) • Bridging Loan Programme (BLP)

Address 1800 743 3000 (Toll Free Singapore) 6 Battery Road (65) 6747 7000 (Overseas) Website Singapore 049909 (Main Branch) http://www.standardchartered.com.sg

Tel

Media Entrepreneur’s Guide to Singapore 121 Debt Funding Sources: Banks Participating in Public Sector Debt Funding Schemes Institutions Participating in Public Sector Debt Funding Schemes

Financial institutions providing bridging loans The following !nancial institutions are participating in SPRING’s Bridging Loan Programme (BLP).

Banks Contact Numbers DBS Bank Limited 1800 222 2200 The Hongkong and Shanghai Banking Corporation Limited (HSBC) 6216 9000 Indian Bank 6309 4379 Maybank 6550 7888 Oversea-Chinese Banking Corporation Limited (OCBC) 1800 538 1111 RHB Bank 6323 2001 Standard Chartered Bank 1800 743 3000 United Overseas Bank Limited 1800 2266 121

Finance Companies Contact Numbers Hong Leong Finance Limited 6415 9640

Other Financial Institutions Contact Numbers IFS Capital Limited 6270 7711 GE Commercial Financing (Singapore) Ltd 6226 3822

SPRING Singapore Bridging Loan Programme (BLP) Financing programme o"ering loans of up to $5 million to local enterprises. You may apply for a Bridging Loan if your company is locally-owned or is a foreign SME. With the new Bridging Loan Programme, you may borrow up to $5 million. You may use the funds for daily operations.

Types of loans under Bridging Loan Programme Working Capital Loan* * Loan can be structured as a term loan of up to 4 years Enhancements (Valid for one year with Previous e"ect from 1 February 2009) Source of Funds Government Capital No change

Use of Funds Working capital, including unsecured No change credit

Interest Rate After 1 Jan 09 No change Minimum of 5.0%. (Announced on 30 Dec 08)

Before 1 Jan 09 Minimum of 6.25%

Maximum Loan Quantum $500,000 $5 million

122 Media Entrepreneur’s Guide to Singapore Debt Funding Sources: Banks Participating in Public Sector Debt Funding Schemes

Eligible Companies Companies with more than 10 All locally-owned companies, employees (at least 30% local and foreign-owned SMEs 2 shareholding)

Risk Share Govt : 50% Govt: 80% PFI* : 50% PFI: 20%

*PFI: Participating !nancial institutions

Financial institutions participating in the Loan Insurance Scheme (LIS and LIS+)

Banks Contact Numbers DBS Bank Limited 1800 222 2200 The Hongkong and Shanghai Banking Corporation Limited (HSBC) 6216 9000 GE Commercial Financing (Singapore) Ltd 6226 3822 Hong Leong Finance Ltd 6415 9640 Oversea-Chinese Banking Corporation Limited (OCBC) 1800 538 1111 Malayan Banking Berhad (Maybank) 6292 4237 Standard Chartered Bank 1800 743 3000 United Overseas Bank Limited 1800 2266 121 The Bank of East Asia, Limited 6224 1334

SPRING Singapore Loan Insurance Scheme (LIS) and LIS+ Helps Singapore-based companies to secure working capital and trade !nancing facilities by providing private insurance against default risks.

The Loan Insurance Scheme (LIS) insures your loans against default risks. The insurance premiums will be co- shared between the government and your enterprise. LIS+ is a complementary programme to LIS, where the government will co-share in the risk of new loans which are beyond the capacity of current LIS insurers for a one- year period.

You can apply for the Loan Insurance Scheme if your company meets the following criteria: For domestic facilities • At least 30% of your shareholding is local

For export-oriented facilities • Singapore-based; • Presence of at least 3 strategic business functions in Singapore. Strategic business functions refer to activities such as banking & !nancial; marketing & business planning; procurement/ logistics; training & personnel management; investment planning/coordination; R&D; technical support and manufacturing.

For companies applying for both domestic and export facilities, you will have to meet both set of criteria as described above.

Media Entrepreneur’s Guide to Singapore 123 Debt Funding Sources: Banks Participating in Public Sector Debt Funding Schemes

Loan Facilities LIS supports both domestic and export-oriented loan facilities.

Types of Loan Facilities Domestic Facilities Export-Oriented Facilities Inventory/Stock Financing Yes Yes Structured Pre-delivery Working Capital Yes Yes (including Revolving Working Capital) Factoring/Bill or Invoice or accounts Yes Yes receivable discounting with recourse

Interest Rates The interest rate charged throughout the tenure of loans will be either !xed or "oating depending on which option best suits your business needs.

Use of LIS Loans • Establish a viable business • Support establishment of inventory storage and distribution hub • Expand existing manufacturing capacity • Diversify into other product lines and capabilities • Augment working capital needs • Expand trading into new markets • Broaden distribution channels • Support and fund their majority owned overseas subsidiaries Enhancements (Valid for one year with Previous e#ect from 1 February 2009) Source of Funds Financial Institution No change

Use of Funds Secured working capital (e.g. against No change receivables)

Maximum Loan Quantum No limit but insurer has veto rights Up to $15 million per borrower over $1 million group

Eligible Companies All companies All companies

Risk Share Insurer : 75% Government will insure loans PFI* : 25% beyond the LIS insurers’ capacities.

Government : 75% Insurance Premium 1.5% p.a. PFI1 : 25% 0.5% p.a. With e#ect for a year starting from 1 Jan 2009, Government subsidizes 90% of insurance premium of 1.5% p.a. on loans which translates to 1.35%

*PFI: Participating !nancial institutions

124 Media Entrepreneur’s Guide to Singapore Debt Funding Sources: Banks Participating in Public Sector Debt Funding Schemes

Financial institutions providing Local Enterprise Finance Scheme (LEFS) loans The following "nancial institutions are participating in SPRING’s Local Enterprise Finance Scheme (LEFS). This program provides loans of up to S$15 million for local SMEs. See the SPRING section below for more detail.

Banks Finance Companies Other Financial Institutions DBS Bank Limited Hong Leong Finance Limited IFS Capital Limited The Hongkong and Shanghai Banking Sing Investments & Finance Limited GE Commercial Financing Corporation Limited Singapura Finance Limited (Singapore) Ltd Indian Bank ORIX Leasing Singapore Ltd Maybank Oversea-Chinese Banking Corporation Limited RHB Bank Standard Chartered Bank United Overseas Bank Limited

SPRING Singapore Local Enterprise Finance Scheme (LEFS) Loans of up to S$15 million for all locally-owned companies

You may apply for the Local Enterprise Finance Scheme if your company is locally-owned, with at least 30% local equity.

The funds may be used for automating and upgrading your factory and equipment, and/or purchasing factory and business premises (only JTC Corporation or Housing & Development Board properties).

Types of loans under LEFS • Factory Loan • Machinery Term Loan / Machinery Hire Purchase • Working Capital Term Loan (Unencumbered assets)# # Unencumbered assets could include both equipment and factories (both commercial and JTC/HDB).

Enhancements (Valid for one year with Previous e!ect from 1 February 2009)

Source of Funds Government capital No change

Use of Funds Secured factory loan No change Machinery term loan Hire Purchase

Maximum Loan Quantum $15 million No change

Eligible Companies Local SMEs Local Non-SMES Local SMEs and Non-SMEs

Risk Share Govt : 80% Govt : 50% PFI1 : 20% PFI1 : 50%

Media Entrepreneur’s Guide to Singapore 125 Debt Funding Sources: Banks Participating in Public Sector Debt Funding Schemes

Expanded to include !nancing No change Scope of more types of construction equipment and heavy vehicles

• Minimum of 5.0% (< 4 years) No change Interest Rate • Minimum of 5.5% (> 4 years) (depending on loan tenure)

*PFI: Participating !nancial institutions

Financial institutions providing micro loans The following !nancial institutions are participating in SPRING’s Micro Loan Programme.

Participating Financial Institutions Contact Numbers

ABN AMRO BANK N.V. (65) 6518 8888 One Ra"es Quay, South Tower, Level 23 Singapore 048583

DBS Bank Limited 1800 222 2200 6 Shenton Way #28-08 DBS Building Tower Two Singapore 068809

GE Commercial Financing (Singapore) Limited (65) 6226 3822 2 Anson Road Level 6 Anson House Singapore 079911

Hong Leong Finance Limited (65) 64159 640 16 Ra"es Quay #01-05 Hong Leong Building Singapore 048581

IFS Capital Limited (65) 6270 7711 7 Temasek Boulevard #10-01 Suntec Tower One Singapore 038987

Maybank (65) 6550 7113 / 6550 7586 / 6550 7562 Maybank Tower / 6468 9986 2 Battery Road Singapore 049907

ORIX Leasing Singapore Limited (65) 6339 3622 331 North Bridge Road #19-01/06 Odeon Towers Singapore 188720

Oversea-Chinese Banking Corporation Limited (OCBC Bank) (65) 6318 7222 65 Chulia Street OCBC Centre, 11th Floor Global Trade Finance Department Singapore 04951

126 Media Entrepreneur’s Guide to Singapore Debt Funding Sources: Banks Participating in Public Sector Debt Funding Schemes

Standard Chartered Bank 1800 743 3000 51 Bras Basah Road Singapore 189554

The Hongkong and Shanghai Banking Corporation Limited (65) 6216 9000 21 Collyer Quay #08-01 HSBC Building Singapore 049320

United Overseas Bank Limited (65) 6539 1236 80 Ra!es Place #12-00 (Closed for lunch between 12-2pm) UOB Plaza 1 Singapore 048624

SPRING Singapore Micro Loan Programme Loans of up to $100,000 for local SMEs with 10 or less employees

A company may apply for the Micro Loan Programme if it meets these criteria: 1. Registered or incorporated in Singapore 2. Employ less than 10 employees 3. At least 30% of your shareholding is local 4. Company’s group "xed assets are below $15 million* 5. Company’s group has no more than 200 employees (for companies in the services sector)*

*Checking up to three levels for corporate shareholders holding 20% or more of the total shareholding in the company and one level down, where the company holds more than 50% of the shareholding in a subsidiary company.

With the Micro Loan Programme, a company may borrow up to $100,000. The company may use the funds for daily operations or for automating and upgrading its factory and equipment

Types of loans under the Micro Loan Programme • Working Capital Loan* *Loan can be structured as a term loan of up to 4 years

Enhancements (Valid for one year with Previous e#ect from 1 February 2009)

Source of Funds Government capital No change

Use of Funds Unsecured working capital No change

Maximum Loan Quantum $100,000 No change

Eligible Companies • company with no more than 10 No change employees • at least 30% of local shareholding • group "xed assets are below $15 million • group has no more than 200 employees (for services sector)

Media Entrepreneur’s Guide to Singapore 127 Debt Funding Sources: Banks Participating in Public Sector Debt Funding Schemes

Risk Share Govt : 80% Govt : 90% PFI1 : 20% PFI1 : 10%

Interest Rate Floor of 5.0% (< 4 years) No change (depending on loan tenure)

*PFI: Participating !nancial institutions

Financial institutions participating in IE Singapore’s Internationalization Finance Scheme

Participating Financial Institutions Contact Numbers ABN AMRO BANK N.V. (65) 6518 8888 One Ra"es Quay, South Tower, Level 23 Singapore 048583

DBS Bank Limited 1800 222 2200 6 Shenton Way #28-08 DBS Building Tower Two Singapore 068809

GE Commercial Financing (Singapore) Limited (65) 6226 3822 2 Anson Road Level 6 Anson House Singapore 079911

Hong Leong Finance Limited (65) 64159 640 16 Ra"es Quay #01-05 Hong Leong Building Singapore 048581

IFS Capital Limited (65) 6270 7711 7 Temasek Boulevard #10-01 Suntec Tower One Singapore 038987

Maybank (65) 6550 7113 / 6550 7586 / 6550 7562 Maybank Tower / 6468 9986 2 Battery Road Singapore 049907

ORIX Leasing Singapore Limited (65) 6339 3622 331 North Bridge Road #19-01/06 Odeon Towers Singapore 188720

Oversea-Chinese Banking Corporation Limited (OCBC Bank) (65) 6318 7222 65 Chulia Street OCBC Centre, 11th Floor Global Trade Finance Department Singapore 049513

Standard Chartered Bank 1800 743 3000 51 Bras Basah Road Singapore 189554

128 Media Entrepreneur’s Guide to Singapore (65) 6216 9000 Debt Funding Sources: Banks Participating in Public Sector Debt Funding Schemes

The Hongkong and Shanghai Banking Corporation Limited 21 Collyer Quay #08-01 HSBC Building Singapore 049320 (65) 6539 1236 United Overseas Bank Limited (Closed for lunch between 12-2pm) 80 Ra#es Place #12-00 UOB Plaza 1 Singapore 048624

IE Singapore’s Internationalization Finance Scheme (IF Scheme) Financing is critical for international expansion. Nonetheless, the higher risks associated with overseas business have made it a perennial challenge for many companies looking to !nance their overseas ventures. The Internationalization Finance (IF) Scheme is designed to address the issue of limited access to funding of overseas expansion by a system of co-sharing of default risks between IE Singapore and participating !nancial institutions.

Credit Facilities Supported Companies can tap on the IF Scheme to access the following credit facilities to support their overseas expansion: a. Asset-Based Financing to purchase !xed assets for use overseas, or to purchase or construct factories overseas b. Structured Loan to !nance the expenses of secured overseas projects c. Banker’s Guarantee for the issuance of guarantee facilities for secured overseas projects* for the following purposes: • Advance payment guarantee • Performance guarantee • Tender/Bid bond guarantee *Eligibility: Issuance of Banker’s Guarantee must relate to and be backed by evidence of speci!c secured overseas projects. In the case of tender/bid bond guarantee, it must be backed by supporting tender documentation.

General Criteria 1. Borrower must be a Singapore-based company (not necessarily Singapore-owned) with at least 3 strategic business functions in Singapore** that is borrowing to support its overseas expansion. ** Evaluated based on the company’s total business spending over the last 3 years and the company performing at least 3 strategic business functions in Singapore to support its regional entities. The strategic business functions may include market development and planning, business and investment planning and coordination, banking, !nancial and treasury functions, logistics and shipping management, research, development or design functions, technical support, manufacturing and other value-added (VA) activities.

2. On a group basis, turnover shall not exceed the following: Non-Trading Companies • S$300 million for publicly listed companies • S$300 million for privately listed companies

Trading Companies*** • S$300 million for publicly listed companies • S$500 million for privately listed companies *** Refers to companies that derive more than 50% of turnover from trading activities

3. Overseas business must complement the Singapore company’s core operations and result in economic spin-o"s to Singapore.

Media Entrepreneur’s Guide to Singapore 129 Public Sector Funding & Development Schemes: International Enterprise (IE) Singapore Public Sector Funding & Development Schemes

Financing Options Enterprise Fund International Enterprise (IE) Singapore Created and sponsored by IE Singapore and Hong Leong Finance, the Enterprise Fund is independently managed by Crest Capital Partners Ltd. The Fund provides an alternative International Enterprise (IE) Singapore is the lead channel of "nancing to companies that encounter di#culties agency under the Ministry of Trade and Industry with traditional bank "nancing. It provides customized spearheading the development of Singapore’s external "nancial solutions to proven and growing businesses with economic wing. light assets. The Fund aims to enable your company to grow at a faster pace and become successful on the international Mission and Vision platform. Our mission is to promote the overseas growth The funding can be used for working capital, project "nancing of Singapore-based enterprises and international or capital for expansion and internationalization. It assumes trade. With a global network in over 30 locations risk with you and your business while minimizing equity and our ‘3C’framework of assistance – Connections, dilution by exiting upon resolution of the funding concern. Competency, Capital, we o!er services to help Once your project is completed, the Enterprise Fund will enterprises export, develop business capabilities, "nd leave your business and reclaim the funds invested, plus any overseas partners and enter new markets. pro"t share agreed.

At the same time, we work to position Singapore as a The Fund provides smart money, o!ering both funding and base for foreign businesses to expand into the region speci"c management resources. It does not discriminate against smaller companies or require your business to have a in partnership with Singapore-based companies. Our technology or high-growth track record. vision is for Singapore to be a thriving business hub with globally competitive enterprises and leading How to qualify international traders. Your company should be an established business that is privately owned and Singapore-based. You should have a Financing, grant, and tax incentive programmes o!ered good management team, good cash $ow track records and by IE Singapore include: at least S$1 million in annual revenue. Your business does not Financing Options have to be industry-speci"c, nor have a minimum paid-up • Enterprise Fund capital. • Internationalization Finance (IF) Scheme Listed companies, start-ups and companies in the research • Loan Insurance Scheme 3 and development stage are not eligible for the Enterprise Fund. Grants • Local Enterprise and Association General Investment Terms Development (LEAD) Programme • Investments are usually structured as convertible • Malaysia Singapore Third Country loans or debts with equity options, with pre- Business Development Fund de"ned repayment tenures • Investment amount of S$1 - 3 M Tax • Financial participation in the company • Double Deduction for Overseas Investment Internationalization Finance Scheme (IF Scheme) Development (DD) Expenditure Please refer to the Debt Funding section for more • Double Tax Deduction for Market information on IE Singapore’s Internationalization Development Finance Scheme.

130 Media Entrepreneur’s Guide to Singapore Public Sector Funding & Development Schemes: International Enterprise (IE) Singapore

Grants: Building and Developing Manpower drive initiatives to improve the overall capabilities of IE Singapore’s manpower programmes aim to help SMEs in their industries. Singapore-based enterprises grow into strong international players by assisting to groom talent to Support will be provided to develop SMEs’ capabilities excel in the global business market, and to develop and industry development for key sectors. The relevant HR strategies for internationalization. development areas can cover, but are not limited to the following: Some manpower assistance platforms that Singapore- 1. Technology & Infrastructure based enterprises may tap on include: 2. Expertise & Managerial Competence • Diagnostic tools such as a web-based HR 3. Business Collaboration toolkit designed to give companies an 4. Intelligence & Research instant general diagnosis of the current 5. Advisory & Consultancy state of HR practices and capabilities within their organisations Quali"cation Criteria • Company development initiatives such as: Who quali"es for support? - The International Market Immersion LEAD is open to all Singapore industry associations Programme (iMIP), which provides which meet the following criteria: assistance to companies to send sta! • The association is in a key industry, has a for overseas market attachments so good representation of industry that they can gain relevant membership and possesses a strong track market expertise to help their record/ performance in assisting SMEs. companies internationalize successfully. • The association should represent an - The International Business Fellowship industry that contributes signi"cantly to (iBF) Programme, which aims to give the economy, has good export potential exposure to participants and and strong employment size. opportunities for learning in supported • The project(s) to be undertaken must not markets of Central Asia, China, India, have commenced at the time of Latin America, Russia, the Middle East application. or Vietnam. • Resource development programmes such What does the support cover? as The Human Capital Network LEAD will support of up to 70% of eligible costs for (HCN) and the iBF Undergraduate qualifying projects. These eligible costs include: Programme provide additional avenues for 1. Manpower-related costs Singapore-based enterprises to • Salary of project members (excludes recruit and groom suitable talent for CPF contributions and bonuses) international expansion. • Airfare (economy) and Cost of Living Allowance • Training Costs 2. Equipment & materials Local Enterprise and Association Development • Industrial Equipment, Materials & Consumables Programme (LEAD) • Hardware and Software (including The Local Enterprise and Association Development but not restricted to info- Programme (LEAD) is a multi-agency e!ort by the communication technology) government to enhance industry and enterprise 3. Professional Services competitiveness. It aims to achieve this through • Consultancy partnerships with industry associations which are • Sub-contracting willing to take the lead in industry development and 4. Business Development Costs (e.g. marketing costs such as business study Media Entrepreneur’s Guide to Singapore 131 Public Sector Funding & Development Schemes: International Enterprise (IE) Singapore

trips, participation or organisation of Sectors Covered by Fund industry conferences, etc) The Fund supports feasibility studies, market research 5. Intellectual Property (e.g. technology studies or approved missions including but not limited patent costs, licensing, royalties) to the following sectors: manufacturing, tourism, infrastructure development, construction, information technology, trading and services.

Eligibility Criteria Malaysia-Singapore Third Country Business To qualify for assistance under the Fund, applicants Development Fund have to meet the following criteria: The Malaysia-Singapore Third Country Business • Be registered with their respective Development Fund is co-founded and co-funded by countries under either the: the two countries. The Fund allows Malaysian and • Business Registration Act / Registration of Singaporean companies to collaborate and jointly Business Ordinance identify investment and business opportunities in ‘third • Societies Act countries’, outside Malaysia and Singapore. • Companies Act • Be a local company in Malaysia which The Fund aims to encourage Malaysian and Singaporean has at least 51% equity owned by companies to expand their business operations in the a Citizen of Malaysia, and a local company global arena. in Singapore which has at least 30% equity owned by Citizens or Supported Activities Permanent Residents of Singapore. The Fund supports up to 50% of all eligible expenses • Business associations undertaking joint for: market research studies or organisation of Joint Feasibility Studies joint missions may also apply. a. Target Speci!c Due Diligence Studies For companies with a speci!c project in mind and are conducting a thorough investigation on the business viability Tax Support: Double Deduction for Overseas of a project, receive up to a maximum of Investment Development Expenditure (DD) RM200,000. The Double Deduction for Overseas Investment b. Pro-active Searches Development Expenditure (DD) aims to encourage For a general search in a speci!c Singapore companies to explore overseas investment market for potential investments or opportunities, which will enable them to enhance their business opportunities, receive up to a competitiveness, expand and grow. Under Section maximum of RM100,000. 14K of the Income Tax Act, companies are allowed to deduct against their taxable income, twice the level of Joint Market Research Studies approved expenses for approved projects. For business associations wanting to commission a joint study to analyse the business environment and identify Qualifying Company opportunities for a speci!c market and industry, receive • Singapore registered companies or up to a maximum of RM100,000. !rms that have permanent establishments in Singapore Joint Missions For enterprises participating in approved joint missions, DD is not available for companies that are already receive up to a maximum of RM200,000. enjoying other forms of tax incentives/concessions

132 Media Entrepreneur’s Guide to Singapore Public Sector Funding & Development Schemes: International Enterprise (IE) Singapore from the government (e.g. incentives under the Double Tax Deduction (DTD) Scheme for Market Economic Expansion Incentive Act and the Income Development Tax Act) The Double Tax Deduction (DTD) Scheme for Market Development aims to encourage Singapore companies Bene!t to the Company to expand their overseas markets. It allows for approved • A double deduction (if the expense is companies to deduct the eligible expenses incurred for not deductible under Section 14 of the approved projects twice against their taxable income. Income Tax Act) • A further deduction (if the expense is Who can apply? deductible under Section 14 of the To qualify for support, the company must meet the Income Tax Act) against income of following criteria: approved expenditure in activities to 1. Be a resident company or have a permanent initiate and develop overseas establishment in Singapore, and investments. 2. Be an active operating/trading company with the primary purpose of promoting The approval of the incentive will be subjected to the trading of goods or provision the provisions of Section 14K of the Income Tax Act. of services.

DTD support is not available for companies that are already enjoying other forms of tax incentives/ concessions from the government (e.g. incentives Qualifying Projects Qualifying Expenses under the Economic Expansion Incentive Act and the • Investment Feasibility / • Third party consultancy Income Tax Act). Due diligence studies fees • Investment study • Return economy airfare What activities are supported? missions/site visits and allowances for up The following projects are supported under Section to 2 full time employees 14B of Income Tax Act: for a maximum of 2 trips • Participation in approved trade fairs per feasibility study • Participation in overseas trade missions/ market development trips • Operation and • Rental and maintenance • Setting up of overseas marketing o"ces maintenance of of o"ce facilities (e.g. • Master licensing and franchising overseas project utilities, conservancy • Advertising in approved local trade development o"ce charges, etc) • Return economy airfares publications for up to 3 employees • Printing of corporate brochures/ to travel from Singapore catalogues for distribution in overseas to the overseas project markets development o"ce to • Engaging in other overseas market take up and return from development activities, e.g. their appointment • Market surveys, feasibility studies, • Remuneration, rental of advertising and promotional campaigns accommodation and subsistence allowances in overseas markets design packaging, for up to 3 employees product / service certi!cation for export

To !nd out more about IE Singapore’s funding and development schemes, please contact the Customer Service Centre at 1800-IESPORE (local toll-free) or (65)

Media Entrepreneur’s Guide to Singapore 133 Public Sector Funding & Development Schemes: Infocomm Development Authority (IDA)

6337 6628 (for overseas callers). Alternatively, you can submit your enquiries online at www.iesingapore.com/ With its pro-business environment, world-class contactus. infrastructure, stable political climate and a reputation for e"ciency that is second to none, Singapore stands out as an ideal location for businesses looking to locate their operations.

IDA aims to develop Singapore as a hub for high- end IT services, leveraging Singapore’s strengths and opportunities in the key economic sectors, its next generation infocomm infrastruture and trusted hub status. IDA encourages MNCs (both infocomm and Infocomm Development Authority non-infocomm) to set up high-end IT functions such as (IDA) Centre of Excellence, Command Centre or Solutioning Industry Development Programmes Centre in Singapore. IDA also support iLEs in the IT- Background enabled outsourcing sector to improve its capability Singapore's infocomm sector is a key contributor to and move up its value chain. its economy and is a vibrant and global Infocomm hub for multi-national IT businesses and infocomm Talk to Us local enterprises (iLEs). In 2007, Singapore’s infocomm To !nd out what Singapore can o#er and how IDA industry grew 13.8 per cent to reach S$51.68 billion can assist you in your business case, contact the IDA and export revenue grew by 15.8 per cent. This positive Industry Development Team at [email protected]. growth is in line with the signi!cant inroads our sg. iLEs have made in international markets. To further enhance infocomm’s role in Singapore’s long term growth and capacity building, IDA continues to build the capabilities of Singapore’s infocomm enterprises, to ensure their continued competitiveness, as well as advance and entrench their standing in the global Infocomm Industry Partnership Programmes playing !eld. Capability Enhancement and Development Through Partnership A Trusted Hub for ICT Services Strong partnerships with large, established industry Singapore is regularly ranked by international agencies players are critical to help iLEs secure a foothold in such as WEF, PERC and BERI as one of the most conducive the local, regional and global infocomm landscape. places in the world to do business. To date, over 7,000 Conversely, by partnering with iLEs, established multinational corporations (MNCs) have established a players can leverage the iLEs’ local knowledge and presence in the country, and about 60% of these make innovations to extend the adoption and pervasiveness Singapore their regional headquaters. Many have also of their technology platforms. To this end, IDA has in chosen to site their global or regional IT hubs here. place partnership programmes to help companies to develop solutions and build up new capabilities in With its highly-quali!ed workforce and a complete eco- innovative emerging technologies. These partnerships system of local and internatioonal industry partners, also facilitate the creation of market driven intellectual Singapore is strongly positioned as a trusted hub for property that our iLEs can bring to global markets. strategic and mission critical IT-enabled activities such as centre of competecy, development centres and 1. Infocomm Local Industry Upgrading shared IT services including data centre operations, Programme (iLIUP) business continuity and disaster recovery and business iLIUP promotes strategic and mutually bene!cial process outsourcing operations. partnerships between iLEs and multinational corporations (MNCs) in the infocomm sector. iLIUP’s 134 Media Entrepreneur’s Guide to Singapore Public Sector Funding & Development Schemes: Infocomm Development Authority (IDA) underlying principle is the fostering of partnerships that result in enhancing local infocomm capabilities How infocomm enterprises bene!t from ODP: and competitiveness, and translate this growth into For iLEs: increased market share for MNC partners. Since 2002, • Leverage the technology capabilities and iLIUP has helped iLEs develop more than 500 new or business connections (such as in-country enhanced products/solutions, trained more than 1,600 channel partners and resellers) of market infocomm manpower headcounts, and gained more leaders to penetrate new markets than $180 million revenue. overseas • Enhance their overseas market positions How infocomm enterprises bene!t from iLIUP: through joint sales calls and marketing For iLEs: activities with their lead partners to boost • Receive priority access to the MNC the con!dence of potential overseas partners’ cutting-edge technologies to clients in their companies’ products and gain technological edge solutions. • Gain access to technical expertise and specialised training from MNC partners For MNCs or major local enterprises with established to reduce their product development time international presence: and costs • Embed their technologies in iLEs’ • Leverage joint sales calls with their MNC innovative products and solutions for partners to boost the con!dence of regional and/ or global reach potential clients in their companies’ • Leverage iLEs’ software products and products and services solutions in speci!c industry domains • Tap on MNC partners’ marketing and to complement their in-country partners distribution networks to reduce their time- for international projects. to-market • A dedicated manager to develop partnerships with iLEs and ensure their For More Information: success. Please visit https://mypartners.ida.gov.sg for: • iLIUP/ODP success stories For MNCs: • Contact information of MNC iLIUP/ODP • Embed their technologies into iLEs’ managers innovative products and services • List of local Infocomm enterprises • Leverage iLEs’ knowledge of local participating in iLIUP/ODP business environment and speci!c industry domains. Alternatively, please email your queries to info@ida. gov.sg. 2. Overseas Development Programme (ODP) This is a partnership-driven programme that serves as a key platform for Singapore’s iLEs to team up with leading infocomm MNCs or major local enterprises with established international presence. Through this programme, iLEs leverage on technological capabilities, Internationalisation Programme product development resources and business The Internationalisation programme aims to groom connections of these market leaders to develop more iLEs into well-known global players in the international innovative products and penetrate new markets arena and help Singapore infocomm local enterprises overseas. The ODP has helped iLEs gain more than $100 (iLEs) to penetrate markets and exploit opportunities million export revenue. overseas.

Media Entrepreneur’s Guide to Singapore 135 Public Sector Funding & Development Schemes: Infocomm Development Authority (IDA)

@ida.gov.sg Infocomm Singapore – Innovations in Action for more information. About Infocomm Singapore Infocomm Singapore encapsulates the qualities and Infocomm Singapore Portal uniqueness of Singapore’s infocomm capabilities, The Infocomm Singapore Portal is your gateway products and services. It brings together ‘made- to wider business networks both in Singapore and by-Singapore’ ICT products and solutions under overseas. an umbrella brand for the purpose of marketing Singapore’s enterprises to a global audience. The vision Co-brand partners can explore business opportunities is for Singapore’s infocomm industry to be the world’s with potential local and overseas buyers and partners, be most trusted, intelligent and results-oriented solutions updated on what’s happening in the infocomm market provider, o"ering a competitive edge to business in the Asia Paci!c regions and bene!t from exclusive partners. marketing e"ort such as advertising, showcase events and online campaigns. For more information, please log on to www. infocommsingapore.sg. The Infocomm Singapore Portal also provides co- brand partners a platform to pro!le their companies, Bene!ts showcase their capabilities and market their products The bene!ts it will bring to the local enterprises are: and services to the world. • It will elevate the perceived value of Singapore’s infocomm products and Other features of the portal include: services both locally and in overseas • Find a Company – an online engine to market locate the company you are looking for at • It will generate stronger recognition of a click of a button the quality and uniqueness of Singapore’s • Business Matching and Leads – post infocomm products and services. partnership opportunities online and get instant results of partner companies Helping Companies Build Their Brand compatible to your posting Government agencies, industry associations and • i-Directory – Singapore’s !rst online organisations that seek to promote the Singapore directory of infocomm solutions for Small infocomm sector overseas can use the Infocomm and Medium-Sized Enterprises Singapore brand. Singapore-based companies • Game Resource Portal – dedicated interested in leveraging the brand can submit microsite for infocomm companies in the their application through the Singapore infocomm gaming industry Technology Federation (SiTF) at infocommsingapore@ sitf.org.sg. To !nd out how your company can leverage the Infocomm Singapore Portal for greater business Branding Seminars and Workshops outreach, log on to www.infocommsingapore.sg Enterprises can look forward to a special series of today. branding seminars and workshops organised by IDA and IE Singapore for infocomm companies. Brand specialists and marketing gurus will be at these seminars to share their insights and experience. The seminars and workshops aim to help companies jumpstart their branding e"orts.

Interested companies can contact infocommsingapore

136 Media Entrepreneur’s Guide to Singapore Public Sector Funding & Development Schemes: Infocomm Development Authority (IDA)

Overseas O!ces provide opportunities for infocomm local IDA has overseas o!ces in China, India, Middle East enterprises to meet partners and potential and U.S. that can help our iLEs to penetrate overseas customers overseas. market, as well as to exploit overseas opportunities • Build a growing network of contacts with and resources, such as access to foreign ICT talents, the government, IT associations and local identi"cation of technology collaboration, market partners to widen IDA’s network in the leads and intelligence, and potential overseas partners region. etc. These o!ces provide: • Explore new emerging markets such as • Assistance to infocomm enterprises in the Eastern Europe, Russia and South areas of market intelligence, government- America. to-government interface, and business • Provides support to the IDA overseas matching services. o!ces • A launch pad service - a place for showcasing the iLE’s products, and an IDA HQ also keeps a close watch on the infocomm incubation area. technological developments on the strategic regions • Access to o!ce facilities while conducting which IDA currently does not have an overseas market research in the overseas market. presence, like ASEAN. IDA provides assistance to the • Organised business missions and ‘Made infocomm local companies in the form of identifying by Singapore’ Road Shows to showcase market opportunities and intelligence, and provides Singapore’s brand name and IT expertise the interface between foreign governments and IT to overseas markets. associations.

ASEAN United States ASEAN is the natural "rst overseas expansion spot for IDA’s US o!ce was opened in Apr 2001. Being located the iLEs when they want to venture overseas, due to in the Silicon Valley, its role is to tap into the world’s its geographical proximity and our familiarity of the ICT pulse and leverage on its location to further IDA’s ASEAN market. objectives and initiatives. In particular, the O!ce is a resource for US companies wishing to explore business A market of 560 million people, and with foreign direct and partnership opportunities in Singapore, and use investment into ASEAN surging to a record high of Singapore as a launch pad to Asia. We provide business US$52 billion in 2006, ASEAN still has a vast amount of development information and facilitate networking potential that is yet to be tapped upon, especially with and contacts with Singapore companies. The San potential new ICT markets such as Vietnam, Indonesia Francisco (SFO) Centre also helps our iLEs who are and Thailand, which have demonstrated strong growth looking to expand into the United States. potential in recent years. IDA San Francisco O!ce IDA Headquarters 3 Twin Dolphin Drive The IDA HQ in Singapore monitors the trends and Suite 150, Redwood City developments in the targeted or growing regions CA 94065, USA such as ASEAN, Middle East, China, South Asia and Tel: (1) 650 593 1716 new emerging markets to identify potential business Fax: (1) 650 593 3276 opportunities. The IDA HQ o!ce in Singapore will: • Provide market intelligence on industry India trends, government directives and focuses India’s emergence as an IT hub has been well in the targeted regions. documented in the international media. Currently, half • Identify speci"c projects, tradeshows or of the Fortune 500 companies outsource development dedicated roadshows and missions to work to India (including GE, Citibank and Texas Instruments), taking advantage of the skilled labour

Media Entrepreneur’s Guide to Singapore 137 Public Sector Funding & Development Schemes: Infocomm Development Authority (IDA) and cost savings possible through outsourcing work to India. India is also heavily featured in our plans to roll Market Intelligence out the Asian Belt of IT Cities. IDA’s engagements with BGO gathers market information locally and feedback India hope to leverage on India’s software capabilities to IDA HQ in Singapore. Activities include sourcing of and link them with the hardware capital cities of Taiwan/ new project opportunities in South Asia so as to bene!t China/Japan, and to the broadband Internet hubs in our local enterprises in their e$ort to access the South Korea, leveraging on Singapore’s strategic position as a Asia market. international hub and digital exchange centre.

IDA Bangalore O#ce The India/Singapore Infocomm Strategy is focused on: Unit 1, level 3, Explorer Block • Helping Singapore companies to identify International Tech Park, White!eld Road and leverage on the infocomm Bangalore 560 066 India opportunities and capabilities in India and Tel: (91) 80 5115 6400 attract Indian infocomm companies to use Fax: (91) 80 5115 6104 Singapore as its gateway to the Asia- Paci!c region as well as a testbed for their products and services China • Creating a continuous "ow of infocomm- IDA’s Shanghai O#ce (SHO) was opened in 2001 in savvy talent from the Indian IT community response to the tremendous growth opportunities in India and Silicon Valley that will meet presented by the Chinese market. It serves as a platform the demands of the local industry for IDA to facilitate Singapore infocomm businesses to • Positioning Singapore as the centre for venture into the huge China market. capital among Indian IT !rms either looking for investments to fund new innovative products and services or for Some of the activities will include: funds to expand into the rest of the world • Creating a stronger awareness of India’s opportunities and capabilities in the local Enabling Market Access IT community as well as brand With IDA Singapore, SHO will leverage on Government Singapore’s ICT capabilities in India. relationships in relevant China cities to organise business missions for Singapore infocomm companies The Bangalore o#ce will leverage its strategic presence in China. These activities serve to facilitate Singapore in the Indian IT hub as follows: infocomm companies’ investments, operations and partnerships in China.

Market Access With the help of IDA HQ in Singapore, the Bangalore It will also serve as a platform to encourage Chinese (BGO) o#ce coordinates e$ort in and organising infocomm companies to venture into Singapore. business missions and bring iLEs into South Asia to meet To further strengthen relationship and facilitate up with their potential business counterparts. BGO also networking, SHO will identify and invite distinguished assists suitable South Asia companies to expand their visitors from China to Singapore for networking business in Singapore and promote bilateral infocomm sessions. These platforms will forge strategic alliances business investment between the two countries. At the that promote bilateral infocomm business investments same time, BGO promotes Singapore infocomm market between the two countries. Such bilateral alliances in South Asia and encourage South Asian companies to allow both countries to draw upon their comparative visit Singapore with the assistance of IDA HQ. advantages to complement each other. And the bilateral alliances may extend towards multilateral partnerships

138 Media Entrepreneur’s Guide to Singapore Public Sector Funding & Development Schemes: Infocomm Development Authority (IDA) that utilise Singapore’s connections with infocomm Beyond real estate, SSC also provides the proposition companies around the region and the world. for its members to approach relevant China infocomm trade associations, who will be able to facilitate matchmaking and introduction to partnerships. Till date, there has been more than 10 MOUs signed with various Promoting Singapore Infocomm Brand trade associations across various cities and provinces SHO represents IDA in Shanghai which includes to facilitate such functions. branding Singapore as an IT hub in Asia, along with qualities that will enhance the Singapore branding. As such, SHO will organise activities to pro!le and For those members who need more services, the likes of position Singapore and our infocomm’s qualities and market intelligence, updates and marketing exposure competencies in the China market. are all within SSC folds. For the purpose of marketing, it serves to provide an umbrella Singapore branding for Providing Market intelligence Singapore infocomm companies venturing overseas. SHO will gather market information which includes sourcing of new project opportunities, partnership As a one-stop platform, SSC has a Singapore Solution and other necessary business navigation for Singapore Showcase that highlight Singapore infocomm infocomm companies to access the Chinese market. companies which have contributed signi!cantly to our infocomm development and regional hub status in Till date, SHO had facilitated companies to gain traction sectors as Transport, Logistics, Healthcare and Financial and success in the China market, across industry Services. This serves the purpose for companies verticals such as e-Government, e-Healthcare, e-Port, across the two countries to deepen relationship and Digital Media, BPO etc. understanding towards fruitful collaborations.

Consulate-General Of The Republic Of Singapore (Infocomm Till date, SSC has facilitated over 25 Singapore Section) infocomm companies, and induce over 400 visitors 1038 Nanjing West Road to the Singapore Solution Showcase and numerous Westgate Tower 18-01 activities to facilitate networking, partnerships and Shanghai 200041 insights. Tel: (86) 21 6217 8822 Fax: (86) 21 6218 9720 Singapore Solutions Centre 1038 Nanjing West Road Westgate Tower 18-01 Singapore Solutions Centre (SSC) Shanghai 200041 Singapore Solutions Centre (SSC) is jointly set up by SiTF Centre Director: Mr George Yang and IDA in 2004. Initiated in Shanghai, SSC expanded Tel: (86) 21 6217 8833 to Hangzhou (city in Zhejiang) in November 2006. Fax: (86) 21 6218 9213 The SSC is formulated with the intention to accelerate Email: [email protected] bilateral collaborations and information exchanges in all areas of infocomm between China and Singapore at Middle East the business-to-business engagements. The Middle East region has experienced strong growth over the recent years; this has been the strongest growth for the Middle East region in a decade. The economic The SSC aims to serve as a “!rst and one stop” for boom is mainly fuelled by the substantial increase in Singapore infocomm companies seeking to venture oil revenue in recent years. Future growth prospect is into China, and need consultation. Within its value also positive, as many Middle East countries are taking propositions for its members, it includes provision of various measures to attract foreign investment and hot-desking, virtual o"ce, and meeting rooms facilities. liberalise their economies to bene!t from international

Media Entrepreneur’s Guide to Singapore 139 Public Sector Funding & Development Schemes: Interactive Digital Media Programme Office trade. (IE) Singapore, Ministry of Education (MOE), Ministry of Information, Communications and the Arts (MICA) and It is the third fastest growing ICT market in the world the Ministry of Trade and Industry (MTI). after India and China. The ICT spending in the Middle East region is expected to grow at double-digit rates The IDM R&D Programme aims to achieve the for the next few years. following: • Establish Singapore as a preferred place The thrust of the Middle East o!ce is to: for IDM R&D • Strengthen relations with key government • Be the source of innovation for the media agencies and trade bodies across the sector, fuelling vibrancy and reaping region strong economic returns. The goal is for • Facilitate collaboration and exchanges IDM R&D to fuel the growth of the larger between governments and businesses media sector from an economic • Promote Singapore’s infocomm industry base of $4.7B in 2005 to a $10B value- and companies added sector, and help add 10,000 new • Facilitate Singapore-based companies in jobs by 2015. Qatar and possibly throughout the Middle • Help pioneer the next-generation web East region. media

The strategy is to establish a sustainable ecosystem For more information on IDA’s industry development that energises and synergises the 4 key groups of programmes, please visit the o!cial IDA website stakeholders – Institutes of Higher Learning (IHLs) at www.ida.gov.sg or contact the IDA Industry & Research Institutes (RIs), industry, individuals and Development Team at [email protected]. schools (education).

A strategic programme has been established, and in the last 2 years, we have laid the foundations, setting up several funding initiatives, designed to draw out full participation of the stakeholders and attract international talents. Signi#cant e"ort has also been invested in maximizing the outputs of the stakeholders and match-making them with strategic local and international partners. Interactive Digital Media R&D Programme O!ce (IDMPO) In Aug 06, the Interactive Digital Media Research and Support for Institutes of Higher Learning: Development Programme O!ce (IDMPO), hosted i.ROCK by the Media Development Authority (MDA), was set The i.ROCK (IDM Research Oriented Centres of up to coordinate a multi-agency strategic IDM R&D Knowledge) initiative seeks to make Singapore the Programme for which the National Research Foundation preferred place for IDM R&D through: (NRF) allocated $500M over 5 years. • Establishing a network of world-class R&D Centres in Singapore; IDMPO coordinates e"orts between agencies such as • Building up local capacity and capabilities; Agency for Science, Technology and Research (A*STAR), • Doing R&D in high impact and strategic Defence Science and Technology Agency (DSTA), areas; and Economic Development Board (EDB), Infocomm • Strengthening connections with industry Development Authority (IDA), International Enterprise

140 Media Entrepreneur’s Guide to Singapore Public Sector Funding & Development Schemes: Interactive Digital Media Programme Office

and other key stakeholders in Singapore grassroots innovation in the IDM sector. Individuals and globally. and start-ups with breakthrough ideas that can be developed into innovative products and services will There are two main initiatives for the IHLs: be matched with appropriate mentor support and • Competitive call for R&D projects from funding, to bring about their realisation. The i.JAM local IHLs through the Public Sector Call initiative marshals support from industry players, and the IDM in Education Call; and business mentors and technology suppliers to provide • International Research Centres @ bottom-up support to the transforming of innovative Singapore (IRC@SG) that attracts top ideas into useful applications and breakthroughs. foreign IHLs and RIs to Singapore.

From 2 incubators slightly more than a year ago, we Support for Industry: Futurescape now have 10, ranging from institutional to private The Futurescape programme seeks to mobilise the ones. Signi"cantly, they draw upon a comprehensive industry, targeting 3 groups in particular – major source of innovators including IHLs, associations and international companies, local !agship companies and businesses. Refer to Table 1 below for the full list of Small Medium Enterprises (SMEs) – to engage in IDM incubators. R&D in Singapore by: • Attracting major international companies to conduct R&D here; Table 1: List of Incubators Incubator Network Tapped • Encouraging signi"cant investment by key or “!agship” industry players to develop NUS Enterprise National University of Singapore new open access platforms that will in turn stimulate demand for applications, NTU Ventures Nanyang Technological University products and services; and • Grooming local companies Nanyang Academy of Fine Athena Innobator Arts, Nanyang Polytechnic and Singapore Management University Recognizing that IDM is a disruptive enabler that could provide the competitive edge of sectors across Institute of Technical Education the economy, we also endeavor to stimulate demand in various sectors and seed innovation through IDM ITE R&D. Working Professionals Azione Capital Form of Assistance Thymos Capital Under the Scheme, MDA will provide assistance Expara IDM Ventures US student network from well known universities through grants to cover the total qualifying cost of the FrontEdge Capital project. Examples of major allowable costs are: Asians through their regional • Manpower Cost o#ces • Equipment and Materials Stream Global • Professional Services Singapore infocomm Technology • Intellectual Property Rights Federation members SiTF

Support for Startups: i.JAM The IDM Jump-start And Mentor (i.JAM) initiative aims to grow a self-sustaining capacity for continuous

Media Entrepreneur’s Guide to Singapore 141 Public Sector Funding & Development Schemes: Media Development Authority

Form of Assistance Microsoft, Friendster and Akami will Under this scheme, MDA will provide assistance for design special programmes to help our start-Ups and individuals with innovative projects startups and companies leverage on their exhibiting R&D in either technology, creative, social engineering resources and global go-to- or business models. The grant covers up to a cap of market programmes; helping our S$50,000 qualifying cost of the project. Examples of companies’ products and services most major allowable costs include: expeditiously enter into the global • Subsistence allowance of applicants markets. (subject to a cap of S$600 per applicant per month) To "nd out more about IDMPO’s funding and • Third-party manpower costs development schemes, please visit the o#cial IDMPO • Research expenses and website at www.idm.sg. • Equipment and software

Incubators supporting i.JAM projects are expected to invest between 10% to 25% of the project cost of the startup, for an equivalent percentage of equity in the project.

Bringing Them Together: i.MATCH Two years into the programme, we have built up an ecosystem of some 260 projects. Our initiatives have helped to stir up momentum for innovation in IDM throughout the grassroots, industry and research institute sectors and our support programmes have garnered much interest both locally and overseas.

With a base load of projects that continues to grow, IDMPO is putting in more e!orts on maximising the outcomes of the results by interlocking with various demand stakeholders of the sector. These include members of the investment communities, global platforms players and key demand drivers and one another. a. i.Match (fund) This is a matchmaking programme to enable IDM companies to have a platform for seeking private investments. Some 60 VCs/corporate investors/angels including Singapore Technologies Engineering, Singapore Press Holdings and IDG are participants of the i.Match (fund) programme. b. i.Match (platforms) Major global players including Apple, HP,

142 Media Entrepreneur’s Guide to Singapore Public Sector Funding & Development Schemes: Media Development Authority

For an updated list of MDA’s Funding and development programmes, please visit the Singapore Media Fusion Website at www. smf.sg.

Media Development Authority Overview Media has never been so exciting, challenging and important to Singapore.

The Media Development Authority (MDA) was created to focus on and develop the media industry, putting Singapore at the forefront of the media age.

The MDA was formed by the merger of the Singapore Broadcasting Authority, the Films and Publications Department, and the Singapore Film Commission (SFC), on 1 Jan 2003.

The setting up of MDA is in response to the convergence of di!erent media that requires a consistent approach in developing and managing the di!erent forms of media.

Various initiatives, developments and standards for television, "lm, video, radio, publication and new media are handled by the MDA. The organisation makes its guidelines clear and consistent across all the media so as to create a pro-business environment.

The MDA has a dual-function role that contributes to developing Singapore into a vibrant global media city as well as a creative economy and a connected society. The "rst is to promote the growth of the media industry. The second is to manage content to protect core values and safeguard consumers’ interests.

To "nd out more about MDA, please visit www.mda.gov.sg.

Media Entrepreneur’s Guide to Singapore 143 Public Sector Funding & Development Schemes: National Research Foundation

developed in the IHLs.

The NRF POC grant will be awarded through a competitive application process to support projects National Research Foundation which are technically proven and have potential for Set up on 1 January 2006 as a department under commercially viability. The grant will go towards the Prime Minister’s O!ce, the National Research supporting the R&D costs related to the development Foundation (NRF) sets the national direction for R&D in a proof-of-concept project. The development work by: must be conducted in the IHLs, and should yield results • Developing policies, plans and strategies pertaining to viability for commercialisation. for research, innovation and enterprise; • Funding strategic initiatives; Applicants awarded the grant will receive up to • Building up R&D capabilities and S$250,000 for their project, which should last no more capacities through nurturing our own and than 1 year. The actual amount awarded will depend on attracting foreign talent; and the extent of work to be carried out. • Coordinating the research agenda of di"erent agencies to transform Singapore Eligibility Criteria into a knowledge-intensive, innovative and This call is open to all sta", researcher and students of entrepreneurial economy. Singapore public-funded universities (NUS, NTU and SMU) and polytechnics. National Framework for Innovation and Enterprise (NFIE) Sta" and students of the Institutes of Technical Overview of Framework Education (ITEs) and MOE-funded schools may also The National Framework for Innovation and Enterprise apply to the grant. (NFIE) will build on the strong R&D foundation established through earlier investments in R&D to Technology Incubation Scheme develop innovation and enterprise in Singapore. A • Technology incubators provide the key focus of the framework is on developing academic environment for the systematic nurturing entrepreneurship in the institutions of higher learning of young companies before they are ready (IHLs). A sum of S$360 million over #ve years (2008 – for venture capital funding. 2012) is allocated to fund the initiatives under NFIE. • The scheme provides 85% co-funding, up to S$500,000, for companies accepted NFIE Initiatives: into technology incubators set up in I. Creating Enterprise Support Structures the IHLs, in exchange for equity stake in Proof of Concept (POC) Grants the company. • A proof-of-concept is generally needed • Co-investors have the option to buy out to show that a technology works and has NRF’s share of the company at the next potential for commercialization. round of #nancing. • The grant provides funding for researchers based in IHLs to develop such proofs-of- Early-Stage Venture Funding concept for their technology ideas. • There is a dearth of VCs to fund early-stage • Each grant will be up to a maximum of companies. S$250,000. • The scheme will seed the development of a number of early-stage VC funds to plug The NRF Proof-of-Concept (POC) grant scheme this gap. provides funding for proof-of-concept development to • NRF will match 1:1 the funds raised by researchers in the institutions of higher learning (IHLs), VCs up to S$10 mil per fund. so as to facilitate the commercialisation of technologies • Funds will be managed by professional

144 Media Entrepreneur’s Guide to Singapore Public Sector Funding & Development Schemes: National Research Foundation

VCs, and will invest only in Singapore- of intellectual property arising from based high-tech start-ups. publicly-funded research. • The six selected fund managers are: • These principles serve to promote the use • BioVeda Capital II of IP from publicly-funded research; • Extream Ventures encourage participation of local • Nanostart Ventures businesses and promote industry-IHL • Ra!es Venture Partners collaboration. • Tamarix Capital • Walden International Innovation Vouchers Scheme • Innovation Vouchers will be given to SMEs Disruptive Innovation (DI) Incubator to procure R&D and other services from • An incubator, based on the disruptive IHLs and public research institutions. innovation (DI) methodology of Prof • A list of services that could be procured Clayton Christensen, will be set up to with these vouchers will be released when identify companies that have the potential the scheme is launched. to disrupt a current industry and create • The scheme will encourage SMEs upgrade new ones. their operations through R&D projects with • NRF will support the incubator on a 1:1 IHLs and public research institutes. co-funding basis. • The investment committee will evaluate Industry Proof-of-Concept and Technology Incubation the start-ups based on disruptive Scheme innovation criteria. The start-ups will be • These are similar to the NRF Proof-of- nurtured using the DI methodology. Concept scheme and are opened to local • A signi"cant proportion of start-ups will be Small and Medium size Entreprises (SME) sourced from IHLs.

III. Supporting Innovation Policy Studies Innovation Policy Centre • A national centre for innovation studies will II. Enhancing Technology Transfer be set up. Translational R&D Grants for Polytechnics • It will propose policies and initiatives to • Polytechnics play an important role in encourage innovation in both private and technology transfer to bring university public sectors. research closer to market. • Some examples of projects that the centre • The grant will support polytechnics to could undertake are: Setting up a National perform translational research on the R&D Innovation Index, technology forecasting, output from universities and research IP mapping, etc. institutes (RIs). • It will encourage universities and RIs to work with polytechnics as strategic IV. Establishing Support for Academic partners to bring research breakthroughs Entrepreneurship in Universities to the marketplace. Establishment of University Enterprise Boards • A high-level Enterprise Board will be set National IP Principles for Publicly-funded R&D up in each university to drive innovation. • A set of principles, guidelines and best • The Enterprise Board will be formed from practices will be provided for the a subset of the university’s Board of identi"cation, Trustees and may include other members ownership, protection and exploitation with relevant experience.

Media Entrepreneur’s Guide to Singapore 145 Public Sector Funding & Development Schemes: National Research Foundation

• The Enterprise Board will manage the CREATE will therefore be the Asia research campus of university’s Innovation Fund. these institutions.

Innovation Funds for Universities CREATE aims to be a talent magnet and innovation hub. • An Innovation Fund will be established The research centres in CREATE will host professors, in each university to supplement the research investigators, doctoral and postdoctoral universities’ internal funding for innovation researchers who will form research groups to pursue and entrepreneurship activities. research programmes in areas that are aligned both to • The Innovation Fund will fund Singapore’s strategic interest and those of the respective entrepreneurship education, technology institutions. CREATE entities would have intensive incubators, entrepreneurs-in-residence collaboration with Singapore-based universities, and other programmes, to promote polytechnics, laboratories and research institutes, in commercialisation of university cutting-edge research projects and in the attraction of technologies. global talent. For example, research centres in CREATE • Universities will propose the activities that could work with NUS / NTU to jointly recruit graduate are to be funded by the Innovation Fund. students who would be enrolled in NUS and NTU PhD courses but doing their research at CREATE. The students will now enjoy co-supervision by senior faculty at world- class research universities to which CREATE is linked. Campus for Research Excellence And Technological Enterprise (CREATE) CREATE will also host technology transfer activities Research, innovation and enterprise are essential to push research results towards commercialisation. in shaping Singapore economy into the future. To CREATE could tap the pipelines of business graduate accelerate Singapore’s thrust towards an inventive, students from universities in Singapore, such as INSEAD innovative and entrepreneurial economy, the NRF and the Singapore Management University, to formulate is working with selected elite international research joint business plans to commercialise research results. universities to establish a number of world-class Panels and networks comprising venture capitalists research centres in Singapore which will have and entrepreneurs could be involved as mentors to intensive research collaboration with Singapore-based the researchers, to encourage innovative technology universities and research institutions. This complex of applications and enterprise formation. research centres from world-class research universities and corporate labs, together with the talent they Corporate labs of multi-national corporations (MNCs) train and their technology transfer activities, form the generate cutting-edge knowledge for products which Campus for Research Excellence And Technological do not yet exist. The presence of such corporate labs Enterprise (CREATE). in Singapore would add to our knowledge creation capability and create more research career opportunities Many US and European universities are eager to in Singapore. CREATE would also house some of these establish a presence in Asia in a way never contemplated corporate labs to encourage close interactions with the before because of the keen awareness of the rise of Asia research centres. and the increasing shift of global dominance towards Asia. CREATE o!ers a multi-national, multi-disciplinary CREATE will have a physical campus at the site of the research enterprise unlike anything known till now, former Warren golf course and will be co-located with strategically located in the heart of Asia, at the nexus of the NUS University Town. This location will provide East and West. The opportunity to interact with other CREATE entities with convenient access to the research world-class research institutions in Singapore add to resources, students and faculty of NUS as well as the the attractiveness of CREATE to global participants. scienti"c community in One-North and the Science

146 Media Entrepreneur’s Guide to Singapore Public Sector Funding & Development Schemes: National Research Foundation

Parks. CREATE will engage the whole Singapore research CREATE Entity community through shared facilities and research The existing CREATE entity is the Singapore-MIT Alliance space. The facilities for the CREATE campus are expected for Research and Technology (SMART) Centre. to be ready in year 2010. Interim arrangements have been made to house the research centres in temporary The Massachusetts Institute of Technology (MIT) facilities in the collaborating Singapore institutions so established the !rst centre within CREATE known that research activities can commence. as the Singapore-MIT Alliance for Research and Technology (SMART) Centre. The SMART Centre is MIT’s The Campus as a whole is expected to house some !rst such research centre of its kind outside its home 1,000 young research talent at a steady state, as well campus in Cambridge, Massachusetts and MIT’s largest as a larger churn of talent coming through Singapore international research endeavour. MIT’s decision to work with the best minds from all over the world to partner with NRF in this new venture re"ects gathered here. The key elements of CREATE are tremendous interest and enthusiasm on the part of summarised in Figure 1. MIT’s faculty.

The SMART Centre will serve as an intellectual hub for interactions between MIT and global researchers in Singapore at exciting frontier areas of science and technology. The SMART Centre will allow faculty, researchers and graduate students from MIT to collaborate with their counterparts from universities, polytechnics, research institutes and industry in Singapore and Asia. There will be a continuous cohort of MIT professors, post-doctorates and PhD students at the SMART Centre. Major research interactions will involve groups of post doctoral fellows and PhD students from MIT as well as a#liated researchers from other institutions working side by side in the SMART Centre. At steady state, we anticipate that the Centre will house !ve to six inter-disciplinary research groups, which together will consist of several hundred people.

“The SMART Centre will o$er participants from MIT and Singapore unique opportunities to advance research agendas that will shape the development of science and technology in the coming decades,” MIT President Susan Hock!eld said. “It also represents a new way for MIT to engage in research on topics of great societal importance and presents new mechanisms for MIT’s engagement in this important region of the world.”

Media Entrepreneur’s Guide to Singapore 147 Public Sector Funding & Development Schemes: National Research Foundation

Competitive Research Programme Funding Scheme • High quality cutting-edge science; The Competitive Research Programme (CRP) Funding • High likelihood of building up research Scheme complements the existing Strategic Research infrastructure and capabilities in Programmes that have been identi!ed top-down, Singapore; by funding a broad base of research ideas, through • Competent team consisting of individuals a competitive bottom-up approach. This will help to with credible track records; identify new potential strategic research areas in which • Excellent execution of individual projects Singapore can invest to develop core capabilities for which form a coherent programme; and new industries of the future. • High potential to generate economic and societal bene!ts to Singapore by creating The CRP Funding Scheme will support R&D programmes, new industries or advancing existing each comprising multiple related projects under a industries. unifying theme. Each CRP Funding Scheme award is for a maximum of S$10 million per programme, over three Scenario-based CRP to !ve years. There are expected to be two rounds of The Scenario-based approach to identifying research grant calls each year. programmes will complement the General CRP scheme. The Scenario-based CRP aims to support While the CRP Funding Scheme is open to all areas R&D programmes that are truly use-inspired and able of science and technology, preference will be given to produce technical breakthroughs to big challenges to areas that fall outside of the focus of existing NRF and opportunities for Singapore. Strategic Research Programmes, one of which is Interactive and Digital Media (IDM). In each Scenario-based call, NRF will articulate a future scenario that o"ers a major challenge or opportunity Open to both public and private sector participants, the for Singapore. The research community will be invited CRP Funding Scheme aims to encourage collaboration to submit proposals for research programmes that will and partnerships between academia and industry. By address key scienti!c and technological challenges funding at the programme level, a more coordinated presented by the given scenario. and integrated support of high-impact inter-disciplinary research is possible as a larger budget can be allocated In addition to the basic criteria for General CRP to fund a number of related projects to address a given proposals, Scenario-based CRP proposals will also be problem. evaluated on the following: • Extent to which the proposed R&D The CRP Funding Scheme involves two types of calls: programme address the challenges or General and Scenario-based calls. opportunities posed by the given scenario; • Relevance and importance of the Overview of the CRP Funding Scheme proposed R&D programme in terms General CRP of the economic, technological, social and The General CRP allows the Principal Investigators environmental impact on Singapore; and (PIs) to surface any new area of research with potential • Quality of the proposed R&D programme, economic and societal bene!ts for Singapore through a compared to similar international e"orts bottom-up approach. Calls for the General CRP will be elsewhere. held annually. Each proposal should be submitted by a Lead PI, who is expected to be actively involved in the Eligibility overall management of the programme and who will Principal Investigators from all Singapore-based be accountable for the research and its deliverables. institutions of higher learning (IHLs), public sector agencies and research institutions, not-for-pro!t CRP proposals should demonstrate the following: hospitals and research laboratories as well as companies

148 Media Entrepreneur’s Guide to Singapore Public Sector Funding & Development Schemes: SPRING Singapore and company-a!liated research laboratories, This scheme is similar to the Startup Enterprise are eligible to apply. Support for private sector Development Scheme (SEEDS) and the Growth organisations which are based in Singapore would be Financing Programme (GFP) in encouraging business provided on a co-funding basis. angel investment in innovative start-up companies. Note: Start-ups which are already receiving funding under Only research conducted in Singapore may be funded SEEDS or GFP cannot apply under BAS. under the CRP. Contact the Manager of each of the two Business Angel R&D proposals already funded by other Singapore Funds to register your interest. agencies would not be considered under the CRP.

For more information on NRF’s programmes and initiatives: BAF Spectrum Pte Ltd Tel: (65) 6332 9010 Ms Jenny Law Fax: (65) 6332 9011 Tel: (65) 6777 7139 Email: [email protected] Fax: (65) 6777 7140 Email: [email protected] Website: www.bafspectrum.com

Sirius Angel Fund Ms Linda Chan Tel: (65) 6225 2686 Fax: (65) 6225 1798 Email: [email protected] Website: www.sirius.com.sg/

Enterprise Investment Incentive Scheme Start-ups can attract more investments as investors can Business Angels Scheme (BAS) deduct up to $3 million of losses against their taxable Provides innovative Singapore-based young companies a income. matching dollar for every dollar invested by pre-approved angel groups, up to $1.5 million. Your start-up company should meet these criteria: If your company is less than "ve years old and is 1. An unlisted company in its initial years developing innovative products or processes for of existence with a paid-up capital of at the global market, you could qualify for the Business least $10,000. Angels Scheme. 2. Primarily engaged in innovative and high growth activities, with substantial This scheme brings together business angels to invest developmental content for a speci"c in your company with a matching dollar from SEEDS product, process or service. Capital*, up to a maximum of $1.5 million. You will 3. Be incorporated in Singapore with need to obtain a minimum investment of $75,000 from business activities mainly in Singapore. one of the 2 pre-approved business angel groups. Both SEEDS Capital and the business angel group will take Investments should meet these criteria: equity stakes in the company in proportion to their 1. Be in the form of a purchase of new investments. ordinary share capital in the qualifying start-up and not replacement capital or * SEEDS Capital is a subsidiary of SPRING Singapore. debt instruments (such as convertible

Media Entrepreneur’s Guide to Singapore 149 Public Sector Funding & Development Schemes: SPRING Singapore

loans). 2. No condition in the shares that would From 1 December 2008 to 30 November 2009, SPRING eliminate the investor’s risk. SEEDS Capital will match two dollars for every dollar 3. Shares must be issued and acquired by raised by the company. the investor during the time of the start- up’s approved status. Criteria for applicant 4. A loss will be recognized under this Start-up must: scheme provided the sale of the quali!ed 1. Be a Private Limited company incorporated shares is between the start of the second for less than 5 years in Singapore. and end of the sixth year from the date of 2. Have paid-up capital and non-current purchase of the shares. liabilities of not more than S$50,000 but not 5. Each investment must be at least $1,000. more than $1 million. 6. An investor can be an individual or a 3. Carry out its core activities in Singapore. company. Individual includes the 4. Be involved in developing new or better entrepreneur who founded the start-up, products, processes and applications. and relatives and employees who purchase shares from the start-up at Criteria for investor market price (this excludes share Investor must: allocations to employees and share 1. Corporate or individual investor(s) must not obtained by exercising employee stock have prior interest in the company at the options). point of application. 2. Corporate investor(s) must be legal entities with a minimum paid-up capital of $500,000. SPRING Startup Enterprise Development 3. Individual investor(s) should: Scheme (SPRING SEEDS) • Possess management experience, Provides innovative Singapore-based start-ups a matching business contacts or technical expertise dollar for every dollar an investor puts in your business, up that can add value to the start-up to $1 million. • Not be related to the founder(s) of the start-up If yours is an innovative start-up that is developing • Maintain arms length transactions with innovative products or processes for the global market, the founder(s) you could qualify for SPRING SEEDS, a scheme that is • At least one third party investor or for start-ups that are creating innovative or intellectual his nominee must take a Board seat in content with strong potential for success in the the company. international markets.

SPRING SEEDS Capital* will invest a matching dollar for every dollar an investor(s) puts in your business. Your investor must put in at least $75,000. SPRING SEEDS Young Entrepreneurs Scheme for Startups Capital will match the total sum dollar for dollar, from (YES! Startups) an initial $300,000 and subsequently up to a maximum Provides youths with grants of up to $50,000 to start their of $1 million. Both SPRING SEEDS Capital and the third- innovative business. party investor(s) will take equity stakes in the company in proportion to their investments. YES! Startups was launched on 18 November 2008 with the objective of nurturing and encouraging youths * SPRING SEEDS Capital is a subsidiary of SPRING Singapore. to be enterprising and innovative through ‘hands-on’

150 Media Entrepreneur’s Guide to Singapore Public Sector Funding & Development Schemes: SPRING Singapore entrepreneurship learning. This scheme will provide Deal Flow Connection funding support for youths to set up their innovative A gateway where any small, medium and large companies startup. through a common content and interactive platform can get connected to the !nancing community. YES! Startups complements the Young Entrepreneurs Scheme for Schools, or YES! Schools, launched Deal Flow Connection is a one-stop access service to last month. Both schemes tap on the $25 million identify and introduce Financing Seekers to Professional Entrepreneurial Talent Development Fund (ETDF), Services or Sources Of Funds across all types of !nancing which was launched four years ago to provide seed applied by institution and business. money to students to turn their innovative ideas into businesses. With this platform, businesses can match their deals with di"erent sources of !nance ranging from debts, Through YES! Startups, SPRING will match with $4 for equities, government assistance schemes, OTC, every $1 raised by the applicant through self-funding, venture funds, private placements as well as !nancial schools or any other third-party sources. The maximum institutions. amount of grant provided under YES! Startups is $50,000. Deal Flow Connection comprises of the following: Deal Flow Community Eligibility Deal Flow Connection creates an environment where YES! Startups is available to applicants who meet the !nancing seekers (Entrepreneurs), professionals following eligibility criteria: (Intermediaries) and !nancing sources (Sources of • Singapore citizen or Permanent Resident, funds), can identify and share meaningful business below 26 years old on the date of opportunities. It brings investment and business application (before 26th Birthday) opportunities together with the people and companies • Parental consent must be sought for those that invest and provide professional services. The three below 18 years old entities work closely together in this community. • First-time entrepreneur • Incorporation of a private limited Deal Flow Portal company (upon approval) with its business The portal identi!es, matches, and introduces activities wholly or mainly based in !nancing seekers and !nancing sources across every Singapore. type of !nancing applied by businesses. Entrepreneurs, Intermediaries and Investors can register their interest and the system will !nd a match for them according to Participating Schools their !nancing requirement. National University of Singapore Singapore Management University Deal Flow Support Singapore Polytechnic We have a support team to provide personalised Ngee Ann Polytechnic services such as hotline for queries, service o"ering and Temasek Polytechnic navigation of Deal Flow Connection Portal. We conduct Republic Polytechnic face-to-face consultation sessions to receive hands-on Singapore Institute of Management advice, auto-screening mechanism to !nd you suitable Nanyang Technological University funds. ITE College East ITE College West ITE College Central Nanyang Polytechnic

Media Entrepreneur’s Guide to Singapore 151 Public Sector Funding & Development Schemes: SPRING Singapore

Intellectual Property Management (IPM) for SMEs Programme Provides Singapore-based SMEs consultancy advice and funding support to develop and protect your intellectual • IP audit property. • IP education and training • IP intelligence and research The two year IPM for SMEs programme, jointly managed • IP portfolio management by SPRING and the Intellectual Property O!ce of • IP strategy Singapore (IPOS), is an initiative to help you manage • IP valuation the entire life cycle of your IP, including its creation, • Licensing ownership, protection and commercial exploitation.

Criteria: Local Enterprise Technical Assistance Scheme • Registered or incorporated in Singapore (LETAS) • At least 30% of your shareholding is local Provides Singapore-based SMEs a grant to hire external • Your company’s group "xed assets are experts to improve your management and operations. worth below $15 million* • You have not more than 200 employees With the Local Enterprise Technical Assistance Scheme, (for companies in the services sector)* you can get a grant to engage an external consultant to * Computed on a group basis i.e. checking up implement quality management and IT systems. Project to three levels for corporate shareholders examples include ISO certi"cation and upgrading holding 20% or more of the total shareholding computer systems. in the company and one level down where the company holds more than 50% of the Criteria: shareholding in a subsidiary company. • Registered or incorporated in Singapore • At least 30% of your shareholding is local It will help you to implement an IPM system as part of a • Your company’s group "xed assets are supporting infrastructure for the development of new worth below $15 million* products, processes, ideas and business models. • You have not more than 200 employees (for companies in the services sector)* The IPM for SMEs programme has 2 phases. You can *Computed on a group basis i.e. checking up get funding help throughout the duration of the to three levels for corporate shareholders programme: holding 20% or more of the total shareholding Phase 1: SCOPE IP™ is a diagnostic tool developed in the company and one level down where by IPOS. It will help you to assess the strengths and the company holds more than 50% of the weaknesses of your IP deployment and IPM system. shareholding in a subsidiary company. You will gain a better understanding of your existing IPM status and possible strategic IP options based on Funding: current and future needs. You will get up to 50% support LETAS subsidises up to 50% of the costs of hiring the for the consultancy costs of adopting SCOPE IP™. For consultant#. The funding support for IT projects does more information on the tool, visit: www.scopeip.sg not cover hardware and software costs. Funding support for Quality Management system projects does Phase 2: You can implement the recommendations in not cover certi"cation fees. Phase 1 by embarking on IPM capability development projects. You will receive up to 50% support for the #For Quality Management System and IT E-commerce projects, qualifying costs, which include manpower, equipment it is subject to a maximum grant cap of $5,000 or 50% of and materials, consultancy and acquisition of IP rights. consultancy cost (whichever is lower). For IT implementation Your projects can cover, but are not limited to, the projects, it is subject to a maximum grant cap of $10,000 or following areas: 50% of consultancy cost (whichever is lower).

152 Media Entrepreneur’s Guide to Singapore Public Sector Funding & Development Schemes: SPRING Singapore

A Standards Implementation for Productivity SME Management Action for Results (SMART) (SIP) project is intended to assist industry in the Initiative implementation of standards for the improvement of productivity covering both the manufacturing and Provides Singapore-based SMEs consultancy advice and funding support to develop management systems and services sectors. In SIP projects, the standards to be processes. implemented can either be developed or adopted from existing international, national or widely accepted With the SMART Initiative, SMEs can develop and industry standards. strengthen their management systems and processes in a systematic manner. By doing so, they will be able SPRING Singapore brings together signi!cant players in to add value to their customers and stakeholders, local industries in SIP projects for the implementation enhance their competitiveness and be on their way to of voluntary standards which have a high impact on attaining business excellence. productivity. Besides facilitating the project, we work closely with industry to bring together relevant private Eligibility Criteria and government parties to implement standards and • Registered or incorporated in Singapore assess the impact of the SIP projects for industries. The • At least 30% local shareholdings bene!ts will encourage other players in the industries • Company’s !xed assets investments (at to adopt the standard for improvement of their net book value) must not exceed S$15 competitiveness. million* • Employment size must not exceed 200 SIP Highlights employees* (for companies in service • Over $59 million in savings and bene!ts industry) have been gained from SIP projects • At least S$2 million in sales turnover • Recognition and publicity in SPRING and • At least 3 years of business operations other seminars *Computed on a group basis. • Companies can apply for funding of up to 70% of applicable project costs Development of Roadmap (subject to applicable terms and The SMART Initiative helps SMEs to develop a roadmap conditions). Assistance may be provided to build their business capabilities in areas of priority to for manpower-related costs, equipment & the business. A quali!ed business excellence consultant materials, professional services and will work with the management team for 5 man-days intellectual property rights over 2 to 3 months. • Funding is strictly prohibited for project costs paid to other government agencies Funding and ministries. SPRING will support 50% of the actual qualifying cost for consultancy incurred by the company on the Be a part of SIP project during the qualifying period, subject to a total Participation in SIP projects is open to all Singapore maximum grant of S$2,500. registered companies/organisations.This includes : • Small & Medium-sized Enterprises (SMEs) • Large local companies • Multinational Companies( MNCs) Standards Implementation for Productivity • Industry association (SIP) Enhancing productivity through Standards implementation.

Overview

Media Entrepreneur’s Guide to Singapore 153 Public Sector Funding & Development Schemes: SPRING Singapore

Technology Innovation Programme (TIP) Over-the-Counter (OTC) Capital Provides technology consultancy services, expert help and Provides Singapore-based SMEs up to $5 million by putting funding support for Singapore-based SMEs. up shares for sale.

To accelerate technology adoption in your business If you are thinking of raising a large amount of funds operations, SPRING has launched the Technology through an initial public o"ering, here is a cost-e"ective Innovation Programme (TIP) to provide the vital alternative. support and resources you need. Over-the-Counter Capital (OTC Capital) lets you raise Eligibility Criteria: up to $5 million in 12 months -- without a prospectus. • Registered or incorporated in Singapore • At least 30% of your shareholding is local A private equity market for unlisted companies, OTC • Your company’s group !xed assets are Capital attracts private investors such as individual below $15 million* investors, venture capitalists and private companies. • You have no more than 200 employees Anyone or any company may register as an investor (for companies in the services sector)* with the OTC Capital operator, Philips Securities.

*Computed on a group basis i.e. checking To sell shares on OTC Capital, your company should up to three levels for corporate shareholders have high growth potential, a strong management holding 20% or more of the total shareholding team, committed strategic investors and market in the company and one level down, where the capitalisation below $20 million. company holds more than 50% of the shareholding in a subsidiary company. It must also meet the following requirements: • Have a public company structure • Have no material quali!cation of the !nancial statements by the auditor for the Bridging Loan Programme (BLP)* past three years or its entire history if it Financing programme o"ering loans of up to $5 million was established less than three years ago to local enterprises. • Be incorporated and based in Singapore • Have management, directors and Loan Insurance Scheme (LIS) and LIS+* controlling shareholders that are of sound Helps Singapore-based companies to secure working integrity and character, and have adequate capital and trade !nancing facilities by providing experience and quali!cations private insurance against default risks. • Satisfy the OTC Capital rules • Have a Corporate Advisor to prepare submission for admission to OTC Capital Local Enterprise Finance Scheme (LEFS)* and ensure adherence of OTC Capital Loans of up to S$15 million for all locally-owned rules and disclosures thereafter companies. • Have the services of a market maker • Have a few investors lined up Micro Loan Programme* • Have a viable business model with good Loans of up to $100,000 for local SMEs with 10 or less growth prospects employees

* Please refer to the Debt Funding section for more information on these Programmes.

154 Media Entrepreneur’s Guide to Singapore Public Sector Funding & Development Schemes: Centre for Strategic Infocomm Technologies (CSIT)

ready customer. Other Agencies If you are looking for funding to carry out R&D on technology problems in one of the following technology tracks, we want to hear from you.

Technology tracks of interest to us are: • Information processing and analysis Centre for Strategic Infocomm Technologies • Signal processing (CSIT) • Communications system engineering The Centre for Strategic Infocomm Technologies (CSIT) • Info-communications security is an agency in the Ministry of Defence (MINDEF) • Computing that focuses on R&D and solutions development in information and communications technologies to ful!l Typical funding amount: $70,000 the strategic needs of Singapore. For research which requires more modest funding, we Formed on 1 Feb 2003, CSIT has deep in-house have introduced a simpli!ed contract which may be technological expertise spanning a good spectrum of applied where appropriate. disciplines within the infocomm !eld to address a wide Qualifying Criteria range of technological problems. 1. The R&D of the project must generate new Intellectual Property (IP); In its e"orts to develop robust solutions for the country’s 2. The applicant must agree to all points strategic needs, CSIT leverages on commercial expertise stipulated in Terms & Conditions. and works closely with local research institutions, defence R&D and support organisations. Evaluation Criteria 1. Value of the IP generated; CSIT Technology Innovation Fund (TIF) 2. Comprehensiveness of the knowledge Seeing the importance of tapping the energy and transfer plan to CSIT; creativity of individuals, companies and research 3. Value-for-money proposition; institutions outside CSIT, we set up the Technology 4. Reasonableness and timeliness of project Innovation Fund to sponsor innovative R&D on deadlines; challenging infocomm technology problems regardless 5. Track record of the principal and key of locality and nationality. investigator(s). Our aim is the transfer, not ownership, of technology. For more information on CSIT’s Technology Innovation The intellectual properties developed through the Fund, please contact: projects we fund remain with the inventors. Through appropriate funding mechanisms, we structure Corporate Development & Communications win-win relationships that do not undermine the Corporate A"airs #exibility needed to undertake risky R&D involving CSIT Building fresh approaches or ideas. For research which requires Science Park 2 more modest funding, we have introduced a simpli!ed 30 Science Park Road contract which may be applied where appropriate. Singapore 117512 Tel: (65) 6412 6100 Besides o"ering funding and the opportunity to work Fax: (65) 6478 9650 on challenging infocomm technology problems, CSIT Email: [email protected] can provide access to the defence community and our own in-house technical experts who can enhance and value-add to your ideas. Most importantly, we are a

Media Entrepreneur’s Guide to Singapore 155 Network Builders Investor Organizations

Business Angel Network South East Asia (BANSEA) Our Mission Promote development of the angel investment community in Asia through educational conferences/workshops, research, networking with angel groups worldwide, contributing to improving the regulatory environment and corporate governance system for angel investing, and facilitating the matching of start-ups with angel investors.

BANSEA’s Board Members

Board of Directors Chairman, Prof. Wong Poh Kam Director of NUS Entrepreneurship Centre [email protected]

Deputy Chairman, Douglas Abrams Managing Director of Expara Pte Ltd [email protected]

Deputy Chairman, Pierre Hennes Partner of Upstream ventures pierrehennes@ upstreamventures.com

Chad Myers CEO of Mind Information Pte Ltd [email protected]

Chris Evdemon Director of Finn Evdemon Capital Partners chris@!nn-evdemon.com Pte Ltd

Chow Yen-Lu Managing Director of WholeTree Ventures [email protected] & Executive Director of BAF Spectrum Pte Ltd

David Young Managing Director of Azurra Solar Pte Ltd [email protected]

Francis Chua Managing Director of BAF Spectrum Pte Ltd [email protected]

Peter Kwok Kian Tow Executive Director of Endeavor Capital kwok88@paci!c.net.sg Partners Pte Ltd

Walter Lee Senior VP & Fellow of Exploit Technologies [email protected] Pte Ltd

Pitching to BANSEA Entrepreneurs who wish to have the opportunity to pitch to the angel investor group at BANSEA should submit their business plans to the following URL: http://www.angelsoft.net/apply/bansea.

Enquiries For further enquiries, please contact Jenny Law at [email protected]

156 Business Angels (Australia) Business Angels Pte Ltd www.businessangels.com.au is a global matching service which introduces private investors, known as angel investors or business angels, to businesses looking for start-up or expansion capital.

The service was set up in 1992 and was at the forefront of angel investor matching services worldwide. In 1998 a book was written to guide people through the process. This guide, ‘Private Capital for Private Companies’, contains essential information for both !nding an angel investor, and being an angel investor.

Once people register with the Business Angel matching service, a short pro!le is anonymously displayed on the website while detailed information is held in-house and personally matched.

Business Angels Pty Ltd understands that personally matching the business’s needs with the angel investor’s expertise and networks is as important as the provision of funds. We know how important it is for business partners to have compatible standards and values.

By personally managing all applications, con!dentiality is maintained, and carefully considered referrals can be made. This personal recommendation encourages angel investors to meet privately with business owners to ascertain personal and business compatibility.

Google considers Business Angels Pty Ltd an “important, high-quality site”. We rank number one world-wide in the Google search without having to pay to be there - this gives our members’ pro!les excellent global exposure. While our service is based in Australia, we have national and international clients.

Contact Information Christine Kaine Founder Business Angels Pty Ltd Email: [email protected] Website: www.businessangels.com.au Tel: (613) 98266800

157 China Business Angel Network China Business Angel Network (CBAN) was established in December 2007 by a group of angel investors based in Beijing and Shanghai, China in order to bring an alternative source of funding, business expertise and ‘hands-on’ assistance to promising early stage companies in China, also to provide an ideal platform for investors in China to come together and communicate. CBAN aspires to be the !rst organized angel investors network in China.

In May 2008, CBAN successfully held our Inaugural Event in Beijing, which was attended by experienced angel investors from both home and abroad, and industry experts from di"erent !elds in China. Since the launch event CBAN had monthly events for last July ,August, October in Shanghai, and September, November event in Beijing, which usually have keynote speech and business presentation sessions.

CBAN members actively participate at CBAN’s activities, be it in generating deal #ow, or screening business plans, or participating at start-up presentation events. CBAN members invest individually, at their discretion, when and where they choose. CBAN activities include monthly start-up presentation events; the start-ups are selected by CBAN’s Screening Committee from the pool of business plans that are being submitted to CBAN by the various entrepreneurs. CBAN itself is a group, a community of angel investors and as such it is a not-for-pro!t organization. CBAN is a$liated and has an active collaboration with the Business Angel Network South East Asia (BANSEA).

Management Committee Name Position Contact Information Ming Mei ( ) President oatProLogis (China) [email protected] Luo Zhuo ( ) Managing Director at Tsinghua [email protected] Science Park Venture Capital Du Peng ( ) General Manager at Haidan [email protected] Capital Center Yan Li ( ) Managing Partner at Eastern Bell [email protected] Venture Capital Chris Evdemon ( ) Managing Director at Finn Evdemon chris@!nn-evdemon.com Capital Partners Tang Tao ( ) Managing Partner at Eastern Bell [email protected] Venture Capital

Contact Us 18F Shui An Plaza 333 Huaihai Zhong Road Shanghai 200021 China Tel: (8621) 61377872 Fax: (8621) 61208871 Email: [email protected]

158 Singapore Venture Capital & Private Equity Association (SVCA) Home Base For Venture Capital & Private Equity In Singapore

The Singapore Venture Capital and Private Equity Association (SVCA) was formed in 1992 under the patronage of the Economic Development Board (EDB) as a non-pro!t organization to promote and foster the growth in this sector.

Objectives • Promote, develop and maintain the local Venture Capital (VC) and Private Equity (PE) industry as a source of equity !nance • Promote VC and PE investment • Promote the VC and PE profession • Represent the local VC/PE industry in dealing with parties from other countries • Foster interaction among members and the investment community

Main Activities The thrust of SVCA’s activities are: • Facilitate interaction among professionals in the VC & PE industry • Organize meetings on topical issues concerning the VC/PE industry • Act as the inter-phase between local and foreign government agencies and industry groups • Host visits by trade groups seeking business alliances and opportunities • Facilitate matching of businesses seeking funds/investment with VC/PE !rms • Organize talks, seminars, and conferences • Organize social and business networking functions • Publish directories and newsletters

Contact Hwee Bin Li, Executive Director Email: [email protected]

159 Entrepreneurship Organizations

Action Community for Entrepreneurship (ACE) The Action Community for Entrepreneurship (ACE) was launched on 26 May 2003 as a national e!ort to foster Singapore into a creative and entrepreneurial nation where innovation and enterprise can be translated into wealth creation and where diversity of ideas thrives. Entrepreneurship is a key pillar in strengthening Singapore's economic competitiveness and complements our engines of growth in manufacturing and services.

Under ACE, there are four action teams called Action Crucibles (AC) - focusing on speci"c areas on entrepreneurship to strategise and drive the implementation of the programmes and initiatives: 1. Culture & Education AC – To foster a more entrepreneurial culture in Singapore and nurture enterprising individuals. 2. Financing AC – To improve SMEs' access to "nancing by developing a spectrum of "nancing instruments and a business environment that is conducive to supporting "nancing for SMEs. 3. Rules AC – To lower the regulatory burden on businesses through existing pro-enterprise government initiatives and to seek feedback on rules a!ecting businesses. 4. Internationalisation AC – To provide focused and high quality advice to companies on their overseas venture.

Team Position

Mr Lee Yi Shyan Minister of State for Trade and Industry (ACE Chairman) Minister-in-charge of Entrepreneurship

Mr Inderjit Singh CEO, In"niti Solutions Pte Ltd (Financing Action Crucible, Chairperson)

Ms Elim Chew Founder & President, 77th Street (S) Pte Ltd (Culture Action Crucible, Chairperson)

Dr Antony Ng Co-Founder & CEO, D’Crypt Pte Ltd (Education Action Crucible, Chairperson)

Mr Richard Eu Group CEO, Eu Yan Sang International Ltd (Internationalization Action Crucible, Chairperson)

Mr Patrick Daniel Editor-In-Chief, English and Malay Newspapers (Rules Action Crucible, Chairperson) Division, Singapore Press

Contact Info: ACE Secretariat Website: 2 Bukit Merah Central Singapore 159 835 www.ace.sg

160 Entrepreneurship Organizations

Asia-Paci!c Student Entrepreneurship Society (ASES) The Asia-Paci!c Student Entrepreneurship Society (ASES) is a Global Student Organization with established chapters at universities in China (Shanghai, Beijing and Zhejiang), Hong Kong, India, Japan, Philippines, Singapore, South Korea, Taiwan, the United States (Stanford University), and Canada. ASES is also in the process of developing chapters in England at Oxford University and Cambridge University, and an additional chapter in the United States at University of Southern California.

Founded at Stanford University in 1998, ASES originally began as a global student conference on entrepreneurship. Since its conception, it has expanded to a student organization that facilitates mentoring, conferences, networking, and education based around entrepreneurship speci!cally in the Asia-Paci!c region.

Vision ASES’ vision is to create an international entrepreneurship network, focused around the Asia-Paci!c region, that helps foster a new generation of entrepreneurs ready to innovate in the ever-changing global markets.

Mission The mission of ASES is to provide the future leaders in business, technology, and the Asia-Paci!c with the tools and network needed to become successful entrepreneurs in the Asia-Paci!c Region.

ASES Summit at Stanford ASES seeks to maintain and strengthen its current network between chapters through global conferences, the Summit conference during the spring, and chapter reports. Furthermore, we also work with developing chapters. ASES has grown dramatically since its creation in 1998. Australia became our newest chapter in 2007, resulting in the addition of two hundred members to our global network.

In the coming years, ASES will continue to drive forward its founding visions by expanding the global network and creating new tools to empower globally collaborative entrepreneurial projects. As a global organization initiated by students, we never cease to believe in the creativity of individuals to learn, to create, and to inspire.

Contact Us We operate in National University of Singapore (NUS), Nanyang Technological University (NTU) and Singapore Management University (SMU). Please contact respective contact person for further details:

NUS NTU SMU Penny Ng Lee Chee Long Ooi Yung Chaw Email: [email protected] E-mail: [email protected] E-mail: [email protected] Mobile: (65) 9724 6550 Mobile: (65) 9336 2986 Mobile: (65) 9456 7713

161 Entrepreneur 27 (e27) Singapore “We live to make geeks cool and their code-craft in demand. Both male and female. Since Jan 2006.”

Entrepreneur27 (e27) Singapore is the sister organization of the original Entrepreneur27 group founded by Noah Kagan in Silicon Valley/ San Francisco Bay Area. The ‘27’ in Entrepreneur27 (e27) really means ‘<27’. It re!ects our beliefs in youth and entrepreneurship and a hope for a new generation of innovators and thinkers who grew up with ubiquitous internet and mobile infrastructures.

Since Jan 2006, e27 has reached out to thousands of new media enthusiasts and entrepreneurs through our 4 unconferences and numerous other outreach events at polytechnics and junior colleges. Via our mailing lists, Facebook groups and event wikis, we seek to engage our community in a direct conversation.

Events: Unconferences An unconference is the opposite of a usual conference. It does not consist of boring talks and presentations, but focuses on interaction and discussion between the participants, and is usually organized on the web. You sign up on a wiki, propose topics on that wiki, "nd out who else is coming, read up more on what others say about the event at the main site or blog. Bloggers publicize the events, with trackbacks linking to the event site or wiki. Attendees use IM (Instant Messaging like MSN, Yahoo, Skype, Gtalk) to get like-minded friends to come.

Facebook Developers’ Garage Attending a Facebook Developers’ Garage is an opportunity for a deep dive into the Facebook Platform: it is a forum to share ideas with local developers, look for partners on your latest project, see and participate in Facebook App demonstrations, seek technical support, or just network and socialize with other developers interested in the Facebook Platform. There will also be other opportunities to touch on viral growth, tricks for testing your application, metrics for success, ninja code tricks…the usual. Pretty much anything goes.

BarCamp Singapore BarCamp is an ad-hoc unconference born from the desire for people to share and learn in an open environment. It is an intense event with discussions, demos and interaction from attendees. Anyone with something to contribute or with the desire to learn is welcome to join.

OutReach Events Besides holding regular conference events, e27 also organizes the OutReach Events where we bring startup entrepreneurs to share their experiences in local schools.

162 nuStart nuStart is an organisation established by aspiring entrepreneurs from the National University of Singapore (NUS) who are on a one-year internship program in various start-up companies in Stockholm. The program, NUS College in Stockholm, is a collaboration between NUS and the Royal Institute of Technology (Kungliga Tekniska högskolan, KTH). nuStart aims to promote entrepreneurial exchange. Internally, this is achieved by creating initiatives for its members and helping them build strong networks with companies, individuals, and entrepreneurial organizations in Stockholm. However, nuStart also recognise the greater potential and value for collaboration on a bigger scale. As such, nuStart’s outlook also extends to a broader external level where we strive to be the leading organisation acting as the enabler and channel for entrepreneurial exchange between Stockholm and Singapore.

Chapters nuStart Education Focuses on creating initiatives for the bene!t of our members. Some of the planned events include the Entrepreneur Speaker Series and company visits. nuStart Projects The special projects arm of nuStart. This chapter is in charge of organizing conferences that allow immediate interaction with the Swedish entrepreneurial community in events like Hej Världen!, Facebook Garage (FDG) Stockholm, and Rojak! among many others. nuStart Consulting The consulting chapter works closely with small businesses to assist them in their endeavours in Singapore and Sweden as well as Europe.

Enquiries For enquiries about the Swedish and the Nordic entrepreneurial scene, email us at [email protected]. Website: www.nustart.sg

163 Project:Senso Project:Senso had its humble beginnings as a simple idea of bringing Singaporean players of the CashFlow game together. With popular demand, Project:Senso has substantially evolved to become an entrepreneur volunteer organization with a vibrant online community in Singapore with a reach spanning Malaysia, Indonesia and Thailand.

Project:Senso brings enterprising individuals together into a self sustaining peer support network where they can be in good company, helping each other without fear of reprisal and showcasing the true spirits of entrepreneurship.

Project:Senso is: 1. A platform for youths, aspiring entrepreneurs, start-ups and SMEs to get sound knowledge related to business and !nancial skills. 2. An avenue where bridges can be created to allow entrepreneurs to gain useful contacts and networking opportunities as well as great places to discuss over co"ee. 3. A support group where entrepreneurs can rant, get answers to their queries and suggest new business ideas or opportunities. 4. An avenue for any event that will groom youths and entrepreneurs in developing entrepreneurial skills and sharpening their business mindset. 5. A non-pro!t organization that encourages the spirit of giving back to society through social entrepreneurship and charity work. 6. A social entity that provides disabled communities and veterans with adequate skills, support and courage to start their own businesses rather than working under the demands of others.

“What di"erentiates the normal man from a successful man? One simple word. Aspiration. To never let circumstances dictate his life, to take responsibility for his actions and his choices.” - Nicholas Chan

Board of Directors Valerie Lim - Managing Director of Gateway 21 Pte Ltd Abuayubul Ansari - Personal Financial Advisor and Certi!ed Wealth Coach; Founder of NowAsia and Biz4Kids Peter Tan - CEO of Paci!c Centennial Group; Executive Director of AdCause Singapore Ken Chia - Founder & Group Marketing Director of Team Digital International Group

Management Team Nicholas Chan - Chief Operations & Technical Manager; Director of Azione Capital Pte Ltd; Director of Executive Publishing Pte Ltd Joseph Wong - Chief Event Manager; Founder of Training Gear Asia Emily Ng - Chief Editor; Strategic Planner of PhoneValley; Founder of E994 Koh Bing Xiong - Assistant Editor; NUS student Lim Eu-Ginn - Young Entrepreneur Coordinator; Taylors College student; Marketing Protégé of Azione Capital Pte Ltd Karin Chang - Head of Malaysia Events Jonnie Lak - Coordinator of Malaysia Operations

164 Singapore (SG) Entrepreneurs Creating Successful Enterprises of Tomorrow

Singapore (SG) Entrepreneurs is a public and moderated blog dedicated to people who are involved in entrepreneurship and enterprise. It serves as a site where fellow entrepreneurs, venture capitalists, business plan competition organizers blog about their experiences on entrepreneurship and enterprise in Singapore. We are interested to talk about intrapreneurship and social entrepreneurship as well. Feel free to explore the site and the issues discussed and to bring up new ones of your own. Take part in the constant evolution of the blog for it is yours as much as it is ours.

Founders Bernard Leong, Manager and Editor Gwendolyn Tan, Editor Javier Lai Weichang, Business Development Director

Contact Email: [email protected] Website: www.sgentrepreneurs.com

165 Start-Up@Singapore (S@S) Start-Up@Singapore 2009 Start-Up@Singapore (S@S) is a world-class business plan competition organized by National University of Singapore (NUS) Entrepreneurship Society, and supported by the NUS Entrepreneurship Centre and NUS Business School Alumni Association. Launched in 1999 and now in our tenth year, S@S aims to be the beacon for start-ups on their road to success.

Since our inception, S@S has attracted more than 1700 teams and 6000 participants, some from countries as far away as Australia, Canada, Norway, Pakistan, Russia and Greece. In addition to this, S@S has also spawned more than 60 start-ups, including award-winning businesses like tenCube, FriarTuck, PerceptiveI, World Indigo, PurpleAce and Quantagen. Many of these start-ups have gone on to do extremely well in other national and international business plan competitions.

In our formative years, S@S was fashioned solely as a business plan competition. Yet, in recent years, we’ve grown and evolved to become much more than just a contest. Over and above the capital that we award to start-ups with winning business plans, S@S now provides current and aspiring entrepreneurs with a staggering repertoire of resources, such as educational seminars, team building workshops, mentorship opportunities and networking sessions, to help them make the critical transition from paper to product.

Last year’s S@S witnessed a record-setting 285 teams and 945 participants taking part in the competition. With an average age of 22, participants were also the youngest ever in S@S’ history. In recognition of our commitment and dedication to Singapore’s entrepreneurial community, S@S recently received the Friends of Enterprise (Public Service) Award 2005 from the Spirit of Enterprise.

What is Start-Up@Singapore REALLY about? In simple terms, Start-Up@Singapore is a nation-wide business plan competition. Most participants will form a team by themselves before entering the competition. The 1st phase of Start-Up@Singapore requires each team to prepare and submit a document called an Executive Summary. This document, simplistically speaking, covers all the aspects related to your team’s business idea and its implementation. As with most other competitions, Start- Up@Singapore will invite experienced judges to evaluate all the Executive Summaries that we receive. If these judges collectively deem your Executive Summary to be promising, your team will proceed to the 2nd phase of Start-Up@Singapore. In this phase, your team will be required to broaden your Executive Summary into a full- !edged Business Plan and pitch it to a panel of experienced judges. Do note that these judges will not be the same as those who evaluated your Executive Summary. If your team wins, you get to take home a substantial cash prize to help turn your winning idea into a money-making reality.

Team Mohammad Ridza B Salim, Lead, Start-Up@Singapore 2009

Contact Information Email us: [email protected] Website: www.startup.org.sg

166 The Digital Movement We are a young, not-for-pro!t, organization striving to build and connect thought leaders in the digital space. We hope to achieve our goal by sharing and spreading the passion for technology and innovation, and also by building platforms to facilitate the exchange of ideas.

TDM has been o"cially registered in 2006, and since then, we have been carrying out a series of activities that has been focused on bonding the Web 2.0 and Social Media community locally, and connecting to overseas experts around the world.

Examples include Nexus 2007, the !rst major Web 2.0 conference in SEA which attracted about 600 attendees; BlogOut, a gathering of the best technology bloggers, New Media Partners in iX, the largest technology conference in SEA and also PopOut, an important platform to engage those interested in the web 2.0 + mobile space.

We are fully ground up and independent, and have gotten great responses by folks eager to contribute to building up this very exciting space. So how would one describe the TDM culture? We’re all about being passionate in what we do, having a strong integrity, being bold and daring, striving to be innovative and of course, loving to have fun and let informality rule the day!!

Team For information on the TDM team: http://www.thedigitalmovement.org/about/the-team/

Contact Information Howie Chang, Lead Andrew Peters, Public Relations Website Email: Tel:(65) 94519012 www.thedigitalmovement.org [email protected] Email: andrew@thepaci!cwest.com

167 The Indus Entrepreneurs (TiE) Singapore Fostering Entrepreneurship Globally TiE Global: The Indus Entrepreneurs (TiE) was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. TiE’s mission is to foster entrepreneurship globally through mentoring, networking, and education. Dedicated to the virtuous cycle of wealth creation and giving back to the community, TiE’s focus is on generating and nurturing our next generation of entrepreneurs.

TiE has grown to become the world’s largest not-for -pro!t organisation for entrepreneurs today spread over 52 chapters in 11 countries. Over 12,000 Members and 1,800 plus Charter Members - includes top Entrepreneurs, VCs, Private Equity, Angels, Law Firms, Tech & Management professionals. Besides its "agship event TiECon, the largest professional conference for entrepreneurs, TiE now has a wide range of programs including Special Interest Groups (SIGs), TiE Institute, Deal Flow Meetings, TiE Young Entrepreneurs, and, most recently, TiE Women’s Forum and CEO Forum.

Chapters: TiE has today 52 chapters in 11 countries, including Singapore.

About TIE Singapore TiE Singapore was established in 2002 by Member of Parliament Inderjit Singh. TiE Singapore’s activities and membership today re"ect its diverse and international constituency of enterprising and innovative business people. We intend to establish a Singapore Entrepreneurship Platform which will foster innovation, enterprise creation and entrepreneurial activity in Singapore. This will help to nurture Singaporeans to make a global impact and inspire and support them to turn “Great Ideas Into Great Businesses”.

To help Singaporeans entrepreneurs succeed, we give them a platform for accessing expertise and business partners. Regular events are held to educate, inspire and network with like-minded individuals interested in entrepreneurship. We also provide a ‘mentoring’ program for aspiring entrepreneurs.

TiE Singapore is open to collaboration with other organizations, which have the same vision and aspirations of entrepreneurship. Through these collaborations, the spirit of entrepreneurship spreads, hence helping TiE Singapore to ful!l its mission. Since TiE has grown to become one of the world’s largest not-for-pro!t organization for entrepreneurs, We at TiE Singapore plan to be a ‘Super Hub Chapter’ for Asia & Middle-East inviting top Entrepreneurs, VCs, Private Equity, Angels, Law Firms, Tech & Management professionals to join us in our journey in achieving our goal by end of 2010.

Management For enquiries, please contact: Kuldip Singh, Assistant Executive The Indus Entrepreneurs (TIE) SIngapore Director 36A Hong Kong Street Singapore 059675 Phone: (65) 6225 2741 Email: [email protected]

168 Government-linked Organizations

Agency for Science, Technology and Research (A*STAR) and Exploit Technologies A*STAR represents today’s research scientists and the future generation of aspiring scientists who dare to race with the world’s best towards the very limits of modern science. Together with scientists we will build up our intellectual capital and our scienti!c capabilities. That will boost the economic competitiveness of Singapore.

A*STAR includes fourteen research institutions: • Bioinformatics Institute • Bioprocessing Technology Institute • Genome Institute of Singapore • Institute of Bioengineering and Nanotechnology • Institute of Molecular and Cell Biology • Data Storage Institute • Institute for Infocomm Research • Institute of Chemical & Engineering Sciences • Institute of High Performance Computing • Institute of Materials Research & Engineering • Institute of Medical Biology (IMB) • Institute of Microelectronics and • Singapore Institute of Manufacturing Technology • Singapore Institute for Clinical Sciences (SICS)

Exploit Technologies Pte Ltd (ETPL) • The marketing and commercialisation arm of A*STAR in Singapore. The company is positioned to identify, protect and exploit Intellectual Property (IP) created by the Research Institutes funded and managed by A*STAR. A*STAR’s research institutes have researchers and scientists developing technologies and intellectual properties across multiple Science and Engineering disciplines and Biomedical Research areas. Exploit Technologies manages and consolidates all research institutes’ intellectual properties under one roof as a one-stop centre for research institutes, industries and enterprises. • Through licensing deals and spin-o"s with industry partners, Exploit Technologies enhances the research output of its scientists by translating their inventions into marketable products or processes.

Contact Information Exploit Technologies Pte Ltd 30 Biopolis Street #09-02 Matrix Singapore 138671 Tel: (65) 6478 8420 Fax: (65) 6873 7192 Website: www.exploit-tech.com

169 Association of Small and Medium Enterprises (ASME): Enterprise Development Centre In 2007, 99% of all enterprises in Singapore were SMEs who employed six out of every 10 workers, and contributed 48% of total value added.

ASME recognizes the urgent need for SME-speci!c products, services and government-linked assistance schemes to be made readily available for local small and medium enterprises (SMEs).

With the support of SPRING Singapore, ASME has set up Singapore’s !rst Enterprise Development Centre or EDC@ASME – a holistic advisory centre for aspiring entrepreneurs and current SME owners where they can gain immediate access to a wide range of expert business consultancy products and services along with information on government assistance schemes/grants/programmes to initiate or further develop their businesses.

Individual and companies can bene!t from business advisory services at no charge while options to take up a"ordable SME-speci!c products and services are also available under extended levels of consultancy.

EDC@ASME is committed to provide entrepreneurs and companies with: • Information Access and Assistance on Government Schemes • Basic Advisory & Customized Consultancy on Business Needs • Workshops and Training on Work-Related Knowledge and Competencies • Events on Latest Issues, Opportunities and Networking with Potential Partners • National Initiatives on Re-employment of Older Workers

Advisory & Training Services Announced by Prime Minister Mr Lee Hsien Loong on 8th March 2008, the government will commit $12.6 million over the next three years to the !ve Enterprise Development Centres to provide SMEs consultancy and advisory services. Supported by SPRING Singapore, Entrepreneurs and Companies may now seek !rst-level business advisory services from EDC@ASME at no charge.

EDC@ASME is able to e"ectively further the business interest of both individuals and companies by tapping into a vast resource of expert consultants and business-centric commercial vendors. Depending on the needs of the clients, second-level intensive consultancy services are also available at reasonable rates to clients.

Contact 167 Jalan Bukit Merah Tower 4, #03-13 Singapore 150167 Tel: (65) 6513 0388 Fax: (65) 6513 0399 For Training and Development Programmes, contact: [email protected]

170 Intellectual Property O!ce of Singapore (IPOS) The Intellectual Property O!ce of Singapore (IPOS), a statutory board formed under the Ministry of Law since April 2001, is the lead government agency that advises on and administers intellectual property (IP) laws, promotes IP awareness and provides the infrastructure to facilitate the development of IP in Singapore. With IP fast becoming a critical resource in today’s new economy, IPOS’ vision is to foster a creative Singapore where ideas and intellectual e"orts are valued, developed and exploited.

The various forms of IP protected in Singapore are patents, trade marks, registered designs, copyright, layout- designs of integrated circuits, geographical indications, trade secrets and con#dential information, as well as plant variety.

IPOS works with economic agencies and the IP business community to formulate and review IP policies and practices. Of increasing importance is IPOS’ leadership role in negotiations on IP issues in Singapore’s growing network of Free Trade Agreements with other countries. IPOS has also established critical links with public agencies, professional service providers and international IP bodies to facilitate access to relevant knowledge and expertise, so as to facilitate IP business in the international arena.

Singapore has a fully Trade Related Aspects of Intellectual Property Rights(TRIPS)-compliant IP Rights legislative and administrative regime and is signatory to the various international conventions and treaties. As IP regulator and policy advisor, IPOS is committed to maintaining a robust and pro-business IP regime for the protection and commercial exploitation of IP.

IPOS’ core services include the registration of patents, trade marks and designs in Singapore through manual or online platforms developed for greater convenience. IPOS also helps companies to manage their IP portfolios more e!ciently by developing the appropriate practical tools. To cultivate an IP-savvy culture in Singapore, IPOS has programmes targeted at businesses, schools and the general public, aiming to broaden IP awareness level and deepen IP knowledge.

More information on IPOS can be found on www.ipos.gov.sg.

For general enquiries, contact: Customer Service Department Intellectual Property O!ce of Singapore 51 Bras Basah Road #04-01, Plaza By The Park Singapore 189554 Email: [email protected] Tel: (65) 6339 8616 Fax: (65) 6339 0252 - for general and trade mark correspondences Fax: (65) 6339 9230 - for patent correspondences Fax: (65) 6339 1369 - for registered design correspondences

171 Singapore-MIT GAMBIT Game Lab Jointly established by MDA and the Massachusetts Institute of Technology (MIT), the Singapore-MIT GAMBIT Game Lab is a !ve-year research initiative that addresses important challenges faced by the global digital game research community and industry, with a core focus on identifying and solving research problems using a multi- disciplinary approach that can be applied by Singapore’s digital game industry.

The Singapore-MIT GAMBIT Game Lab focuses on building collaborations between Singapore institutions of higher learning and several MIT departments to accomplish both research and development.

Why GAMBIT? Our name partly represents our existence as an opening gambit into a new stage of development for the games industry as a whole, for Singapore as a new digital arts and entertainment center, and for the examination and consideration of games in an academic environment.

That said, GAMBIT is also an acronym, re"ecting the broad and interdisciplinary scope of the research pursued within our initiative: • Gamers - Player cultures and communities. Behavior, habits, and values. • Aesthetics - Concepts of expression and representation to engage the senses. • Mechanics - Rule design, constraints, system dynamics, and challenge. • Business - Best practices for risk and project management, industry trends. • Innovation - Novel and hybrid genres of gameplay and demographic appeal. • Technology - Software and hardware interfaces, computation, and rendering.

GAMBIT creates a space for conceptual and cultural cross-pollination, enabling students and researchers from Singapore to collaborate with MIT researchers and game industry professionals in international research projects. Beyond technology development, GAMBIT will also conduct research on the artistic, creative, business and social aspects of games. The new initiative will also provide Singapore game researchers and professionals with access to cutting-edge technologies, the latest conceptual developments and links to international game development and research communities.

Contact US Lab Singapore Lab Singapore-MIT GAMBIT Website 5 Cambridge Center Game Lab www.gambit.mit.edu Cambridge, MA 02139 1 Coleman Street #09-06 United States of America The Adelphi Tel: (1) 617.258.5133 Singapore 179803 Fax: (1) 617.253.3599 Republic of Singapore Email: Tel: (65) 6339 3304 [email protected] Fax: (65) 6339 3592 Email: [email protected]

172 University Initiatives

Entrepreneurship Project Clearinghouse This clearinghouse platform was developed to provide companies with a way to solicit entrepreneurial help from INSEAD students, and to give our students the opportunity to do projects that expose them to the real-world of entrepreneurship.

Project Sponsors All INSEAD students have access to this site and can browse the many entrepreneurial projects posted here. If you upload a project, we will do our best to !nd appropriate students to do this project for you.

Students We regularly market the clearinghouse to our contacts in the entrepreneurship world to get educational projects for you to do. Projects can be with entrepreneurial companies or with venture capital/private equity !rms.

Faculty Many faculties include real-world projects in their courses to bring some practice to the theory. If your elective has a project in it, please browse the clearinghouse to see whether any projects !t your curriculum.

For enquiries, please contact: Rudolf and Valeria Maag International Centre for Entrepreneurship INSEAD 1 Ayer Rajah Avenue Singapore 138676 Tel: (65) 6799 5271 (direct) Fax: (65) 6799 5445 (fax) Email: [email protected]

173 iMedia Centre Established in October 2006, the iMedia Centre is passionate about transforming the way Ngee Ann students learn. Tapping into the huge potential o!ered by Interactive and Digital Media (IDM), the centre is focused on developing innovative learning resources that precipitates new approaches to education for the 21st century ‘digital native’ learners. Through the design and delivery of interesting, engaging and highly interactive educational multimedia courseware, the iMedia Centre aims to further enhance the quality of Ngee Ann’s Mobile e-Learning (MeL) educational outcomes.

For enquiries, please contact: Lim Ee-Lon Manager, iMedia Centre Tel: (65) 6460 6840 Email: [email protected]

174 Interactive & Digital Media Institute (IDMI) Our objective To establish Singapore at the forefront of the interactive media revolution worldwide and in the Asia Paci!c region and to be a link for cutting edge creative media research laboratories in NUS.

Laboratory The IDMI laboratory is composed of the following eight laboratories: • Ambient Intelligence Lab • Arts & Creativity Lab • Games Lab • Multimedia Sensing Lab • Mixed Reality Lab • Multimodal Analysis Lab • Social & Cognitive Lab • Social robotics Lab

CUTE Center IDMI has established a joint research centre with Keio University to be located in NUS.

The joint research centre is named Keio-NUS CUTE (Connective Ubiquitous Technology for Embodiments) Centre, jointly funded by Keio University, NUS and Media Development Authority (MDA). Keio-NUS CUTE will promote the growth of the IDM research and commercial environment in Singapore. This is Keio University’s !rst full- scale research centre outside of Japan. The Keio-NUS CUTE focuses on connected lifestyle media and embodied interactive technologies. There will be more than 50 academia, researchers and students from both Keio University and NUS, working in Keio-NUS CUTE research projects, housed within IDMI, NUS.

NUS Hollywood Laboratory NUS Hollywood Lab, established in July 2006, is a part of IDMI. As an outpost for NUS, the lab serves to network with top IDM institutions in the US and facilitates placement of NUS students to do research internship with these institutions. More overseas outposts may be established in the future to help the Institute grow its network of research partners and enable Singapore researchers to learn and gain exposure in these leading research labs.

For enquiries, please contact: National University of Singapore IDM Institute Block E3A, Level 2, Room 4 Singapore 117574 Tel: (65) 6516 6215 Facsimile: (65) 6773 5018 Email: [email protected]

175 NUS Enterprise NUS Enterprise was established in 2001 as a University-level cluster, to provide an enterprise dimension to NUS teaching and research involving the University’s students, sta! and alumni. The functions of the Enterprise cluster complement the Academic cluster of the University to nurture talents with an entrepreneurial and global mindset. NUS Enterprise has set up an incubator environment, helping start-ups to develop and grow. This “incubator without walls” involves: 1. The generation of pipelines – NUS Enterprise promotes the growth of ideas and a project pipeline from the NUS community through a number of activities. These activities include the Start-up@Singapore business plan competition, NUS Overseas College Programme, iLEAD programme and partnerships with polytechnics, Institutes of Higher Learning (IHLs), research institutes and overseas counterparts. 2. Expertise and Management – NUS Enterprise has established a mentor network consisting of incubator managers as well as local and overseas networks, to provide start-ups with business experience. NUS Enterprise also develops entrepreneurs’ capabilities through business clinics, management guidance and marketing assistance. 3. Funding & Infrastructure – NUS Enterprise provides start-ups access to funding, through its own seed funding or grants from government agencies, as well as funding from angel funds and VCs. In addition, NUS Enterprise provides physical space at a number of locations within the campus. It also o!ers infrastructure support through access to NUS R&D resources, IP advice, and legal, accounting, business and "nancing assistance.

In this manner, NUS Enterprise acts as a one-stop shop for entrepreneurs and start-ups, helping to increase the start-up survival rates and shortening time to grow these young companies. As more of its incubatee companies succeed, NUS Enterprise will play a pivotal role in boosting Singapore’s entrepreneurial environment and economy.

Singapore O#ce Management Deputy Director 21 Heng Mui Keng Terrace NUS Enterprise NUS Overseas Colleges: Level 5 Singapore 119613 Dr. Lily Chan, CEO Director: Prof Teo Chee Leong Contact Person: Melina Cheah Chooi Asmine Chong, Secretary Li Tel: 6516 5267 NUS Industry Liaison O#ce: Email: [email protected] Director: Dr Lily Chan Tel: (65) 6773 2269 NUS Entrepreneurship Centre Deputy Director: Prof. Wong Poh Kam, Director Dr Jasmine Kway Dr Sidney Yee, Deputy Director Prof. Kau Ah Keng, Portfolio companies in the media sector include 68 Technologies The company’s project, Qrodo, allows users to create interactive events that instantly broadcast to multiple destinations through social networks. It enables live casting of a scene or event with or without participation. BrandsEngage A reputation monitoring application that aggregates online consumer sentiment from social media sources, analyzes them, ranks them according to their potential impact for companies and organizations to easily identify, monitor and in$uence them.

176 NUS Entrepreneurship Centre (NEC) The NUS Entrepreneurship Centre (NEC), a part of NUS Enterprise, is the ‘one-stop shop’ for entrepreneurship support services for the NUS community as well as those from outside NUS seeking to tap NUS’ entrepreneurship support ecosystem.

NEC’s activities are organized into four key areas: Experiential Education Develops and innovates entrepreneurship education programmes for the NUS community. One such initiative is the newly launched iLEAD (innovative Local Enterprise Achiever Development) programme. iLEAD, a 7½-month programme, provides internship-based experiential learning opportunities for NUS students in local knowledge- intensive enterprises. It aims to cultivate the entrepreneurial mindset of students and develop their leadership skills.

Entrepreneurship Development To raise awareness and interest in entrepreneurship among the NUS community, our centre has pioneered a wide range of Outreach activities, including (1) Start-Up@Singapore, an annual business plan competition open to all Singapore residents (since 1999); (2) a series of international business plan competitions, including Start- Up@Asia (2001), Global Entrepreneurs Challenge (2002, in collaboration with Stanford), and Global Start-Up@ Singapore (2003, in collaboration with INSEAD); (3) monthly Techno-Venture Forum; (4) distinguished Technology Management Speaker Seminars; (5) NUS Wireless Venturing Forum; (6) Business Plan Pitching Sessions (in collaboration with Business Angel Network South East Asia (BANSEA); (7) Mentorship Program for NUS-related ventures by professors, students and alumni.

NUS Enterprise Incubator Provides infrastructural support for technology start-ups founded by NUS sta", students and alumni.

Entrepreneurship & Innovation Research Conducts cutting-edge research on key issues of technology entrepreneurship in collaboration with leading entrepreneurship researchers and research institutions overseas.

NUS Entrepreneurship Centre NUS Enterprise Incubator National University of Singapore National University of Singapore Block E3A, Level 6 8 Prince George’s Park 10 Kent Ridge Crescent Singapore 118407 Singapore 119260

Name Contact No. Email Address Joanne (Education matters) (65) 6516 5149 [email protected] Jolia Tan (65) 6516 8461 [email protected] (Entrepreneurship Development Matters) Helen Ho (NUS Enterprise Incubator - E3A) (65) 6516 5466 [email protected] Thila (NUS Enterprise Incubator - PGP) (65) 6516 3305 [email protected] Annette (Research Matters) (65) 6516 3046 [email protected] Shannen Soo (Other NEC Matters) (65) 6516 3018 [email protected]

177 Institute of Innovation & Entrepreneurship (IIE) The Institute of Innovation and Entrepreneurship (IIE) has been set up to create and grow innovation and entrepreneurship culture amongst SMU’s students, sta! and faculty. IIE is organized into Innovation Promotion, Innovation Sandbox, Incubation, Intellectual Property Management and Innovation and Entrepreneurship training functions.

The innovation promotion function is to be largely funded by NRF’s University Innovation Funds and consists of several programs. Innovation Sandbox supports proof of concept development and draws funding from SMU, NRF, and MDA IDM’s I.Jam programs. Incubation draws funds from NRF’s Technology Incubation Scheme and SPRING’s YES programs. IIE works closely with several early stage venture capitalists and will have two of them as strategic partners. IIE has established an a"liate program for working with academic institutions such as polytechnics, individual researchers, Small and Medium Enterprises and larger Enterprises.

IIE’s vision is to become a leading research and practice center for innovation and entrepreneurship in the region.

Log on to http://www.smu.edu.sg/institutes/iie for more information on our Institute and look out for new initiatives and schemes coming your way soon.

For enquiries, please contact: Institute of Innovation & Entrepreneurship (IIE) Singapore Management University Administration Building 81 Victoria Street, Level 9 Singapore 188065 Tel: (65) 6828 0655 Email: [email protected]

178 Standard Chartered iLab @ SMU The future of banking is in Asia and the key driver is innovation. Standard Chartered and SMU have jointly established this Innovation Centre to conduct leading-edge research and development in business and !nancial products, services and technologies for the Bank’s global network. The iLab focuses its research on generating applied innovations that are customer-centric and commercially relevant, enabling the Bank to ful!ll its promise to deliver leading edge products and services.

Standard Chartered and SMU’s vision for the Innovation Centre is to create a hotbed for business, technology and !nancial innovations that will be rolled out across the Bank’s network in Asia, Africa and the Middle East, while delivering on the Bank’s commitment and belief in talent development. The Innovation Centre creates the perfect environment for students to hone their commercial skills and develop innovative solutions in response to real life business scenarios and challenges.

Contact Tel: (65) 6828 0924 or Email: [email protected]

We are located at School Of Information Systems, 3rd "oor, at SMU.

179 Industry Associations

Association of Independent Television Production Companies (Singapore) The Association of Independent Television Production Companies (Singapore) is an industry organization that represents, promotes and protects the interests of the independent local media production companies.

Objectives: • Establish guidelines and best business practices in the industry • Encourage and promote excellence in all aspects of television production through professional standards and codes of conduct • Provide a forum for members to network and keep up with developments in the industry • Work with government bodies, broadcasters and other industry bodies to promote Singapore as an international broadcast production hub

Executive Committee The Association members are made up of various established production companies with expertise in documentary and factual productions, drama, feature !lms and animation.

The Association currently represents an active membership of 23 independent Television Production Companies in Singapore, with a combined content output for domestic and international TV markets of close to 50%.

AIPRO Singapore is currently headed by an Executive Committee (Ex-Co) made up of representatives of Singapore’s leading production companies.

Name Position Contact Information Jason Lai President laijason@oak3!lms.com Oak3 Films

Adrian Ong Vice-President (TV) [email protected] Right Angle Media

Tan Chih Chong 2nd Vice-President (Film) [email protected] Sitting in Pictures

Pedro Tan Honorary Secretary [email protected] Ochre Pictures

Vincent Lim Honorary Treasurer [email protected] Big Communications

Contact AIPRO Singapore 76 Playfair Road #03-03 LHK Building Singapore 367996 Email: [email protected]

180 Games Exchange Alliance (GXA) An initiative of Infocomm Development Authority of Singapore, GXA is a network of companies that helps game companies cross last-mile commercialisation hurdles to place titles into the hands of Asian gamers.

This is in line with Singapore’s intention to be a centre for the creation and commercialisation of digital media and entertainment (DME) technologies. Supported by IDA, the GXA presently is a thirty-six member business alliance. Each member provides their respective strengths in game development, distribution, hosting, localisation and marketing, to shorten the time-to-market for game companies.

Presidents of 10 national games associations in the Asia Paci!c have signed a Memorandum of Intent (MOI) under the Games Exchange Alliance (GXA), marking the beginning of greater understanding and collaboration in areas such as games development, bill payment services and distribution during the Games Convention Asia (GCA) 2007 in Singapore. The 10 economies which signed the MOI were Singapore, Korea, Australia, New Zealand, Philippines, Taiwan, Hong Kong, Thailand, Japan and Vietnam.

Executive Committee Name Position Contact Information Aroon Tan Magma Studios Pte Ltd President [email protected] Addison Kang Cherry Credits Pte Ltd 1st Vice-President [email protected] Herman Ng Rapture Gaming Pte Ltd 2nd Vice-President [email protected] Steven Tan CEMS Pte Ltd Honorary Secretary [email protected] Terence Teo Tata Communications Ltd Honorary Treasurer [email protected]

181 International Game Developers Association (IGDA) The International Game Developer’s Association (IGDA), is the umbrella organization for game developers across the world. With chapters in over 80 cities across the world, IGDA serves both as a contact network and a source of best practices for the industry.

IGDA Singapore was set up in 2001 to promote the Singaporean Game Development Industry; it’s core mission is to improve communication. This includes helping developers talk to educational and government institutions, networking with investors and external partners, and fascilatating closer communication between developers. IGDA runs bi-monthly networking events, often inviting noteworthy speakers from Singapore and the region to share their experiences.

IGDA Singapore also has a tight collaboration with our sister chapters across Asia; this provides a great way for game developers interested in !nding collaboration or outsourcing partners to get a !rst introduction, and promote the region as a center for game development excellence.

Board of Directors Contact Information Jen MacLean, Chairperson [email protected] Bob Bates, Secretary [email protected] Tobi Saulnier, Treasurer [email protected]

For enquiries, please contact: Allan Simonsen Singapore Chapter Coordinator Contact: (65) 9768 6528 Email: [email protected]

182 Learning Sciences Lab (LSL) Learning Sciences Lab (LSL) is one of three research centres at the National Institute of Education (NIE), Nanyang Technological University (NTU). The LSL was formed in 2005 and is the !rst centre in Asia devoted to conducting researches base on theories and research perspectives from the learning sciences. Currently, there are 17 faculty researchers and 41 research assistants and support sta". The LSL is committed to doing rigorous researches into real world issues in learning and teaching in Singapore schools that will also advance important theoretical and research perspectives in the learning sciences and in education.

Interactive Digital Media (IDM) in Education LSL researchers believe that the nature of IDM innovation revolves around open systems of digital, physical and social interaction that schooling comprises of. IDM is the realization of the idea of ubiquitous mobile computing, which provides learning opportunities beyond the boundaries of formal class room schooling, thereby expanding the frontier of digitally mediated opportunities to learn, interact and share. This eclipses the current design of education system and extends beyond the focus of the current IDM initiative. To this end, LSL is extensively involved in design and research work in the area of new media and literacies, online communities and societies, games and immersive learning environments.

Research Head Hung Wei Long, David Head, Learning Sciences Lab Professor

For enquiries, please contact: Learning Sciences Laboratory National Institute of Education 1 Nanyang Walk Singapore 637616 Email: [email protected] Tel: (65) 6790 3307 Fax: (65) 6515 1992

183 Managed By:

Singapore Animators Connection (SAC) SAC is a community for 3D animators and promotes the development of 3D animation in Singapore.

Who Joins SAC? • Only 3D animation artists are accepted as members of SAC.

Why Do Businesses Join SAC? • Businesses can tap on SAC to: • Recruit 3D animation talents from its membership pool • Seek advice, information and resources on setting up 3D animation companies in Singapore • Expand their contact network in the 3D animation industry • Obtain information on 3D animation including market research and analysis • Help with public education programmes on 3D animation

How Does SAC Work With The Government? • SAC functions as a point of contact between animation artists and the Government. • Members can also get up-to-date information about the Singapore animation industry.

How Much Does It Cost To Join? • There is no membership fee but only 3D animation artists are accepted as members.

Where Can I Get More Information? Website: http://www.ordix.com/cg-3d/

For enquiries, please contact: David Kwok Chairman, SAC Tel: (65) 9693 3870 Email: [email protected]

184 Spirit of Enterprise (SOE) Spirit of Enterprise was founded in 2002 and its mission is to cultivate an active entrepreneurial culture in Singapore by recognising the accomplishment of local entrepreneurs operating small and medium-sized businesses and inspiring young Singaporeans especially students to become entrepreneurs by facilitating interaction, communication and knowledge dissemination between students, the entrepreneurs and the members of the general public.

There is a sustained, ongoing, persistent e!ort to honour and inspire. 1. Spirit of Enterprise Awards – the main event where students are recruited to have a face to face interview with nominee entrepreneurs. 2. Student-Entrepreneur Program - Funds are given to Primary School students to start a business. 3. Book - Each year we distribute a book with practical stories and guidance on entrepreneurship based on the interviews conducted with our award nominees to our local schools. The book is also available in leading bookstores and libraries. 4. SOE Mentorship Programme - SOE is a partner of NUS initiative - Start-Up@Singapore 2008/ 2009. SOE provide mentorship assistance and guidance to student teams in their preparation of the Business Plan Competition. 5. SOE International - established in Singapore in 2003, Mauritius in 2005, Vietnam in 2007 and China in 2008. The United States was established in 2006 as a funding entity for all Spirit of Enterprise entities. SOE is exploring possible new entities in Malaysia and Thailand in 2009. 6. SOE Alumni - Launch in 22 August 2007 - It provides a forum to allow SOE Alumni to create business opportunities within the group and to keep in close contact with past winners. The Alumni is also presented with volunteering opportunities to participate in Spirit of Enterprise programs. SOE plans to host and organise regular networking events in 2009.

The Spirit of Enterprise is funded by the private sector and is managed by an Executive Director. The Board of Governors consists of established entrepreneurs, corporate senior management, students, public service and political leaders.

IPC Status SOE is an approved Institution of a Public Character (IPC) under Section 37(2)(c) of the Income Tax Act registered with the Commissioner of Charities (at the Inland Revenue Authority of Singapore o"ce) under the Charities Act. It is listed under IRAS and in the NPO Directory provided by the National Volunteerism & Philanthropy Centre. Our charity registration number is 01696.

For more information, please contact: Ms Kelly Teoh, Executive Director, Tel: 65635011 Email: [email protected]

185 The Institution of Engineers, Singapore (IES) The Institution of Engineers, Singapore (IES) was formally established in July 1966 as the national society of engineers in Singapore. IES is the premier engineering Institution in Singapore and is called upon by the Government to provide feedback on professional engineering matters. Corporate membership of IES signi!es recognition of professional engineering experience and accomplishments.

IES is well represented among the faculty members of the major engineering institutions of higher learning in Singapore. Through close collaboration with the local universities and polytechnics, IES organizes courses, seminars and talks for engineers and IES members to advance the continuous development of engineers.

The Institution also maintains close links with professional organizations of engineers regionally and throughout the world. These include organizations in Australia, China, Japan, United Kingdom and the United States. The Institution also represents Singapore in the ASEAN Federation of Engineering Organizations (AFEO) in promoting goodwill and fellowship among all engineers in ASEAN.

Through its Engineering Accreditation Board (EAB), IES obtained full signatory status in the Washington Accord (WA) in June 2006. The entry grants IES the authority to represent Singapore, the !rst country within the ASEAN region which has obtained full signatory status in the WA, to vet education systems under the WA mutual recognition framework.

IES does not forget its responsibility to help the less fortunate. Together with the Society of Engineers for the Community (SEC) and the Nee Soon South Community Club Management Committee (NSS CCMC), IES will be setting up a Senior Activity Centre in the near future to ful!ll its corporate social responsibility.

IES will seek to bring the engineering profession greater recognition and raise the status of engineers both locally and internationally through closer collaboration with its stakeholders and contributions to society in the long term.

IES Academy To ful!ll the expanding role of the Continuing Education Centre (CEC), IES set up the IES Academy (IESA) on 1 April 2006 in a central location. IESA aims to be the leading provider of practical engineering knowledge and lifelong training for engineers and technical personnel in Singapore. With the assistance of the various IES technical committees, it is actively conducting courses, workshops, seminars, and talks for IES members and the public.

For enquiries, please contact: The Institution of Engineers, Singapore 70 Bukit Tinggi Road (o" Swiss Club Road) Singapore 289758 Tel: (65) 6469 5000 Fax: (65) 6467 1108

186 Industrial Partnership

ST Electronics ST Electronics delivers innovative system solutions to government, commercial, defence, and industrial customers worldwide. With presence in more than 20 countries and 30 cities, ST Electronics markets its solutions to more than 70 countries internationally. It specialises in the design, development and integration of advanced electronics and communications systems, such as broadband radio frequency and satellite communication, e-Government solutions, information communications technologies and IT, rail and tra!c management, real-time command and control, modelling and simulation, interactive digital media, intelligent building management and information security. ST Electronics (Training & Simulation Systems), a wholly-owned subsidiary of ST Electronics, develops, manufactures and markets advanced computer graphic software and solutions for simulation, animation, games and edutainment applications. It applies leading edge technologies and design methodologies to meet the stringent requirements of customised electronics systems and solutions. For more information, visit www.stee. stengg.com.

Singapore O!ce Management Contact Person 24 Ang Mo Kio Street 65 Chang Yew Kong, President Lee Wee Song 5th Floor, Block D Pang Hee Hon, Deputy President Email: [email protected] Singapore 569061 (Operations) Tel: (65) 6481 8888 Fax: (65) 6481 0693

187 Incubators

EuroINC: European Incubator for innovative companies in Singapore Singapore has been very successful in attracting foreign investment. The result is that in 2005 a total of 7,000 MNCs had a base in Singapore, of which more than 4,000 had their regional Head Quarters there.

In the New Economy the country is moving from an investment driven economy towards an innovation driven economy. One of the pillars under the e!ort to reach this status is the initiative taken by the Economic Development Board (EDB) under the Ministry of Trade and Industry (MTI) to promote the system of “Incubators”, or like they also call them “Business Accelerators’ or “Multipliers”. In 2006 Singapore had more than 100 incubators with 37 having an international or country focus.

EuroINC is such an incubator, set up in partnership with the EDB under its LEAP Scheme.

EuroINC o!ers start-up companies and innovative SMEs in countries of the European Union an easy and guided business start-up in Singapore, the Gateway to Asia. Its initial focus is, and promotion will be targeted on The Netherlands, Belgium and Luxemburg (Benelux) and Rheinland Westfalen (Germany). This does not exclude other EU countries in a later stage.

EuroINC provides support in the following areas: 1. EuroINC organizes initial fact "nding missions to Singapore to explore possibilities through targeted visits to potential customers, companies and technology centers. 2. EuroINC o!ers support in setting up a Singapore o#ce or subsidiary company, in "nding physical space at reasonable rental cost, in providing o#ce support and, if necessary, in hiring sta!. 3. EuroINC o!ers support in getting access to grant schemes by government, and to "nancing facilities through local VCs and Angels. 4. EuroINC has access to local R&D support and o!ers support in getting government grants, subsidies and tax bene"ts. 5. EuroINC supports start-up companies in the incubator to get easy access to markets and partners. This support is provided through subsidized participation in conferences, exhibitions and networking activities organized by or through the EDB, like GES (Global Entrepolis @ Singapore) and EE (Enterprise Exchange). In 2005 GES had 14,000 participants with 30% foreign participation (1,000 from China, 550 from India, 500 from ASEAN). In 2006 the number of participants exceeded 15,000.

Management For enquiries, please contact: Dr. Franz Carpay, CEO EuroINC Singapore EuroINC Netherlands Cecilia Huijsmans, CFO SIMTech c/o Ind. Devt. O#ce Tel: (65) 9053 9134 71 Nanyang Drive Email: [email protected] Singapore 638075 Tel: (31) (0)6 2007 6687 Email: [email protected]

188 HotSpots Incubators Initiated by the Singapore Economic Development Board (EDB), HOTSpots is a programme that aims to boost technopreneurship in Singapore by linking up technopreneurs and technology-related companies across the island.

HotSpots incubators include: Technopreneur Centre @ Bukit Merah • Within walking distance from Bukit Merah Town Centre • 10 minutes drive from CBD and research institutes at NUS • Furnished unit with carpet, false ceiling, air-con system, telephone and data points • Shared facilities: Meeting rooms, common networking areas, pantry and reception • Business centre that provides IT/Corporate services that include o!ce setup services, o!ce supplies services, event management services • Amenities: Eating house, Food Centres, Convenience Stores Address: Blk 1003 Bukit Merah Central

Technopreneur Centre @ Ayer Rajah • Covered walkway to the nearby bus-stop and food-court. • For those driving to work, there are three storeys of sheltered car park space in the annex to the building. • Shared facilities: 10 meeting rooms • Business centre that provides IT/Corporate services that include o!ce setup services, o!ce supplies services, event management services • Amenities: Eating house Address: 20 Ayer Rajah Crescent, Ayer Rajah Industrial Park iHUB • Shared facilities;10 meeting rooms, 2 conference rooms, Product showcase room, Exhibition gallery, Auditorium, 100-seater capacity threatrette • Available for Start-ups involved in technology such as: R&D, Product Design and development, Software Development, Computer Centre, Data processing, Industrial Training, Telecommunications, Media production services.

For inquiries on Technopreneur Centre @Bukit Merah, Technopreneur Centre @ Ayer Rajah and iHUB: Tel: 1800-5687000 Email: [email protected]

189 iAxil@Singapore Science Park Refer to the succeeding pages of this section for more information on iAxil Venture Accelerator.

Technopark@Chai Chee • Furnishings: E-biz hubs designed for IT startups are located at Block 750A (7 th Floor) and 750C. These units are furnished with carpet, false ceiling, central aircon and lightings. Other u n i t s not within E-biz hubs come with concrete !oor. • Amenities: Foodcourt, alfresco café, recreation room, gym (Membership fees of $50 per annum per card), tennis court, table tennis room, mini putting green, outdoor exercise stations.

For inquiries, contact: Steven Foo Marcus Sim Tel: 6826 5761 Tel: 6826 5537 Fax: 6536 3885 Fax: 6536 3885 E-mail: E-mail: [email protected] [email protected]

The Connection • Free Shuttle bus service during morning and evening peaks to/fro Tiong Bahru MRT Station • Shared facilities such as the meeting rooms, discussion areas, lounges and kitchenette • Working space for 1 person to as many as 6 persons per room • Conveniently located in the heartland of the southwestern part of Singapore, just 15 minutes’ drive away from downtown.

For inquiries, contact: Tel: 62739257 Email: [email protected]

NUS Business Incubator The NUS Business Incubator (NBI), a branch of the NUS Venture Support responsible for incubating the new companies, provides start-ups with physical facilities and infrastructure such as o"ce space and equipment, as well as access to a wide network of professional resources, which includes mentors, advisors and consultants, to assist companies in business development and networking opportunities.

Address: For inquiries, contact: 8 Prince George’s Park, Tel: (65) 6516 1133 / (65) 6516 1134 Singapore 118407 Email: [email protected] Organization website: http://www.nus. edu.sg/enterprise/nec/

190 SMU Business Innovations Generator The SMU Business Innovation Generator (SMU BIG) was set up for the very purpose of promoting and nurturing entrepreneurial initiatives in the university. SMU BIG provides student teams and recent alumni with the expertise, networks and tools they need to make their ventures successful. One important initiative of the SMU BIG is to allocate an incubation space or laboratory within the city campus for selected SMU student groups to operate and execute their business ideas.

For inquiries, contact: Tel: (65) 6828 0655 Email: [email protected]

Suntec City • 7 million square feet of convention, exhibition, o!ce, retail and car park space • 5 o!ce towers, comprising four 45-storey and one 18-storey tower, o"er spectacular views of Suntec City’s majestic Fountain of Wealth, city skyline, the harbour and beyond. • Other components: Suntec City Mall, Suntec Singapore International Convention & Exhibition Centre (SSICEC), Fountain of Wealth • Shared facilities: Tennis courts, swimming pool • Amenities: Exhibition hall, convention hall, 31 meeting rooms, 596-seat theatre, gallery, ballroom for up to 1,800 people, banks (DBS and HSBC), retail outlets, food outlets, postage services, clinics, gym, M&E services

For inquiries, contact: Tel: (65) 6295 2888 Email: [email protected]

191 iAxil Venture Accelerator iAxil, the venture accelerator arm of Ascendas, is a one-stop centre providing a total solution to help entrepreneurs launch and grow their ventures. Leveraging on more than 10 years of experience, we have grown into one of the region’s leading venture accelerator centres o!ering entrepreneurs and start-up companies access to venture capital, business planning, "nancial modelling, market intelligence, deal structuring, recruitment of talent, branding, access to international markets and quick startup space. We also provide consultancy services to help corporate and government clients to establish, develop and run incubators and incubation programs.

Axil was conceptualised in 1994 and to date has helped more than 185 start-up companies. Some of the successful start-up companies include Sinomem Technology Ltd (listed on the Singapore Exchange), Pharmesis International Ltd (listed on Singapore Exchange) Cassis International, Triangle Technologies, Lightspeed Technology and InfoTalk Corporation.

Services iAxil provides more than just a roof and four walls for your business. From the basic business support services to the more comprehensive accelerator services, the choice is yours. • Quick Start-up O#ce Units • Accelerator Services • Financial Services • Technical Services • Business Support Services • Business Networking • Business Seminars • Meeting, Conference and Seminar Room Facilities • Science Park Amenities

Portfolio Companies There are currently more than 50 companies in iAxil’s Venture Accelerator Centre.

Management

Name Position Email Chew Mun Hou CEO [email protected] Tay Yi Ling Senior VP yiling.tay@iaxilnet Jesline Sim Manager [email protected]

For general enquiries, please contact: iAxil Pte Ltd Tel: (65) 6774 4048 21 Science Park Road Fax: (65) 6774 2459 #02-02 The Aquarius, Email: [email protected] Singapore Science Park II Singapore 117628

192 ODM Innovations Singapore Incubator for Invention, Innovation, Creative Ideas, Design, Funding and Marketing Channels

ODM Innovations Pte Ltd was incorporated in Singapore in April 2006 as a Locally-based Enterprise Advancement Programme (LEAP) Partner of the Economic Development Board (EDB) of Singapore.

ODM Innovations Pte Ltd is a unique service provider to and an incubator hub for corporations as well as Singapore’s very own innovators. Partnering with ODM Asia Ltd in Hong Kong, ODM Innovations brings to corporations and innovators all round services, including industrial design ideas, cost-e!ective prototyping and marketing channels. We are very glad to have worked with the following companies to develop their innovative products: • Public Utilities Board (PUB), Camp Dresser & Mckee International (S) Pte Ltd, Koh Brothers Building & C. E. Contractor Pte Ltd - Marina Barrage Working Model • Public Utilities Board (PUB) - Marina Barrage Landscape Model • Tangs International Pte Ltd - Aevoz Portable Car Washer • Geiton Pte Ltd - Miniature Optical Mouse

Management For general enquiries, please contact: Hui Wing Feh ODM INNOVATIONS PTE LTD Managing Director 2 Jalan Rajah [email protected] #04-04 Golden Wall Flatted Factory Singapore 329134 Tel: (65) 6446 2616 Fax: (65) 6446 3616 E-mail: [email protected]

193 Advisory Services Advisory Services

Active Capital Asia Active Capital Asia is a private equity advisory and investment !rm. It advises corporations and entrepreneurs on their expansion and capitalization strategies, including private placements and M&A transactions. It acts as a placement agent for private equity funds, as well as a facilitator on investment origination and divestment. It also invests proprietary capital selectively in early-stage and special private equity situations, with a focus on Greater China and Vietnam.

Focus ACA addresses the speci!c needs of two di"erent groups of clients: 1. Entrepreneurs starting, expanding, or divesting their business operations or acquiring additional ones in Asia; 2. Private equity fund managers, raising capital or seeking support in their operations.

Services ACA provides the following services: For corporations • Re!ning or realigning their business, expansion and funding strategies, including the preparation of business plans and private placement memoranda; • Acting as placement agent for private equity placements; • Advising on M&A, buy-out transactions, including strategic alliances. For private equity fund managers, • Acting as placement agent, focusing on introductions to alternative limited partners such as family o#ces and smaller institutions; • Originating investment opportunities; • Providing additional investment management resources, advising on divestment strategies.

Resources ACA has expertise and transaction experience with respect to: • Venture capital and private equity placements • Mergers & acquisitions and buy-out transactions • Strategic planning and senior management advisory • Turnaround situations • Private equity and direct investments • Bridging Western and Asian business cultures

Contact Information Dominique Pommier Managing Director, Active Capital Asia Ltd VBox 888643, Singapore 919191 Tel: (65) 6827 9667 Email: [email protected]

194 Media Entrepreneur’s Guide to Singapore Advisory Advices

Arkbridge Asia Arkbridge is a technology company that specializes in Interactive Digital Media (IDM).

Arkbridge mentors IDM entrepreneurs in the Asia-Paci!c region. We o"er guidance in business planning, fund raising, and channel selling. In certain cases Arkbridge acts as an ‘umbrella’ company under which incubation start-ups can #ourish and grow.

Headquartered in Singapore, Arkbridge incorporates the UK consulting organisation Arkwright Associates that was formed in 1995. Arkwright was instrumental in the formation of the successful internet technology companies VegaStream and ArkStream, and the networking company Tricom.

The Arkbridge team has extensive experience of business and company formation throughout the Asia-Paci!c region.

Management Michael Ha"erty Michael Ha"erty was President of the data networking company CASE Inc., and a main board director for their hugely successful IPO on the UK stock market. He is a founder and CEO of three technology companies: Tricom, VegaStream, Arkstream. Funded by Venture Capitalists in the UK and USA these companies pioneered new technology in voice and video over the Internet with sales in China, Korea, Japan, Europe and the USA. Michael is a main board director of XP-Power the UK listed manufacturer of power supply solutions to the electronics industry. He divides his time between San Francisco, Singapore and London.

Brendan Ha"erty Dr. Brendan P. Ha"erty is the founder and CEO of the 3D modelling company AMT3D. He was educated in Manchester and She$eld. He holds a !rst degree in Analytical Chemistry and a PhD in Computer Modelling. Brendan divides his time between Ireland and Singapore.

Contact Information Arkbridge Asia 70 Anson Road #15-01 Hub Synergy Point Singapore 079905 Tel: (65) 8118 9272 Email: [email protected]

Media Entrepreneur’s Guide to Singapore 195 Advisory Services

BlueOcean Capital Partners BlueOcean Capital Partners is an independent boutique advisory !rm with no a"liations with any !nancial institution or corporation. We thrive on a business model that incorporates a hybrid of investment banking and strategic consultancy.

Founded in Singapore in 2005, our !rm operates out of 3 o"ces in Singapore, Shanghai and Dubai. Based in Asia but with a global outlook, we provide a range of seamless services, from strategy to implementation to closing. We lend you the advantages of reaping the bene!ts of a rapidly growing Asian market, and operating at the global standards of a MNC.

Since our inception, we have advised our clients on over US$2.0 billion in transactions, which dealt with a multitude of our services ranging from mergers & acquisitions to restructurings, strategic !nancing and alliances.

The Complexity of Mergers & Acquisitions At BlueOcean Capital Partners, we understand the woes of undertaking such fragmented chores to complete the M&A process. Thus, we make it simpler for you. In fact, you can say we have glued those chores together. We combine the work of strategy consultants, investment banker and due diligence professionals into a comprehensive M&A solution.

We begin with a strategic review on your industry, market, business, underlying technology and range of strategic options. This allows us to evaluate various M&A strategies and advise on the one that best serves your overall strategic objective.

With a clear-cut M&A strategy in mind, we will then be able to search and shortlist the right, potential targets that o#er a maximum synergetic !t with you.

We will work with you all the way through term-sheet negotiation, due diligence and deal closing in a highly professional and personal manner.

But, it does not end there. We understand that closing is just the mid-point of your trek towards the peak; post M&A integration is a key determinant of success, and we commit ourselves to act as a strategic consultant in guiding you on various aspects of the integration process, be it human resources, operation, !nancial or strategy. Our ultimate objective is to make sure that you gain the bene!ts of the M&A with the risk factors well controlled.

Team Singapore O"ce Mr. Loo Cheng Guan, Managing Partner 4 Shenton Way, Mr. Peter Lai, Chairman #10-01 SGX Centre 2 Mr. Daniel Lin, Associate Director Singapore 068807 Tel: (65) 6536 0578 Fax: (65) 6536 0576 Contact

196 Media Entrepreneur’s Guide to Singapore Advisory Advices

CRICT Research & Consulting Group CRICT provides advisory and consulting services to a wide range of customers within the ICT sector particularly in China and India with a highly specialized and individually customized set of services catering to entrepreneurial start-ups lacking direction and initial funding, growing enterprises needing transformation and monetizing assets, and distressed ventures requiring turnarounds.

One of the most sought after services from CRICT is the ‘Commercialization of Intellectual Property’ which is designed to help technology start-ups from conception of idea to fully funded business operation. The entire process consists of several phases: 1. Phase 1: Ideas are crystallized and transformed into a set of strategies, products and services complete with an executable operation plan and scalable business model. 2. Phase 2: Proof of concept is undertaken, followed by re!nement of the strategic business framework and model. 3. Phase 3: Market and scalability tests are conducted, while the venture prepares for and secures external capital funding. 4. Phase 4: Intensive mentoring for executives and guidance to the board of directors takes place to attain the campaign’s operational milestones and to realize extraordinary shareholders’ returns for the venture.

CRICT delivers its Professional Services through a group of subsidiary companies as part of its ‘Global Hub and Cluster’ strategy in the following locations: Singapore, China, Australia, India, and USA.

The key team members of CRICT consist of business and technology experts in four functional areas each led by a Principal Consultant:

CRICT Board of Advisory

Dr. Robert Bong Dr. He Hao Mr. Micheal Warren Mr. Poonach Machiaih Principal Consultant Principal Consultant Principal Consultant Principal Consultant Strategy & Funding Technology Operations Business Development

Contact Person Isabelle Roulet, Malvina Herrnsdorf, Associate Consultant Associate Consultant Email: [email protected] Email: [email protected]

Media Entrepreneur’s Guide to Singapore 197 Advisory Services

Expara Expara is a venture creation company founded in Singapore in 2003. It runs a virtual business accelerator for interactive and digital media companies and provides pre-seed investments and advisory services for start- ups. Expara also develops and teaches entrepreneurship and innovation experiential-exercise-based learning programs for entrepreneurs, start-ups, companies and public institutions in Asia. Expara’s mission is help build scalable value-innovation-driven ventures.

Expara has extensive experience with innovation in the media and entertainment industry. Expara IDM Ventures is one of i.JAM incubators administered by the IDM Programme O!ce, hosted by the Media Development Authority of Singapore (MDA), as an initiative to encourage IDM start-ups.

Why Expara? Entrepreneurship workshops and advisory Success in entrepreneurship, as in everything, rests on many factors, including capital, knowledge, talents and skills. No matter what level of talent someone brings to their entrepreneurial enterprise, they can bene"t from learning and improving their skills. The skills that improve one’s chances of succeeding in entrepreneurship, like all skills, can be improved through learning and practice. Our entrepreneurship workshop programs and advisory services have helped many entrepreneurs to increase their chances of success.

Funding and mentoring Our virtual business accelerator Expara IDM Ventures provides pre-seed funding and mentoring for IDM-related start-ups.

Entrepreneurship events Expara is a leading organizer of networking events and investor forums designed speci"cally for entrepreneurs, start-up companies and investors in the interactive and digital media industry (IDM).

Innovation workshops In today’s fast-changing, competitive, knowledge-based global economy, organizations are increasingly required to do more with less. and to continually innovate to compete successfully. Expara helps organizations to accomplish these goals by using state-of-the-art methods to train their managers in innovation. Our innovation workshop programs and experiential exercises are speci"cally designed to address the challenges faced by organizations in Asia in developing their innovative capabilities to the fullest.

Singapore O!ce Douglas Abrams, CEO One George Street, #17-05 Singapore 049145 Contact Person Tel: (65) 6435 5295 Douglas Abrams Fax: (65) 6536 7908 Email: [email protected] Email: [email protected] Management

198 Media Entrepreneur’s Guide to Singapore Advisory Advices

Get2Volume We are a small group of experienced executives focused on helping senior executives dramatically improve business results.

We combine CEO management experience in technology, software, semiconductor, secure payment, information technology companies with success leading startups from concept through rapid growth and pro!tability. We work with companies across a range of industries and business situations, and combine these diverse assignments with our professional experience to bring critical insights to our clients.

Services CEO Advisory Services CEO Advisory Services puts an experienced CEO by your side to help you through these growth phases, di"cult times, or major decisions. Over time, you get objective advice from someone who knows from personal experience the challenges you face.

New Venture Execution We provide guidance and execution on establishing or growing your business in Singapore. We help establish organizational strategy, execute hiring, secure grants and subsidies, facilities, and professional service providers.

Fund Raising: Preparation and Execution We work with you to establish funding strategies and assist in execution via our network of private equity, venture capital and angel investors.

Comprehensive Results Linking Asia and the US With over 20 years experience in Asia and the US, we understand the people, the business/political environments and markets that shape technology companies. This experience allows us to solve business problems in a way that goes well beyond generating ideas – it focuses on improving results by providing an executive on the ground where you need results.

Team Contact Information Michael Holt, Partner Singapore: (65) 6363 3853 Eric Smith, Partner Silicon Valley: (1) 949 480 9271 Stephen Spalding, Partner E-mail: [email protected] Alex Carrausse, Associate

Media Entrepreneur’s Guide to Singapore 199 Advisory Services

IPR-X As Asia’s IP asset management partner of choice, IPR-X can provide the following services:

As Advisors IPR-X believes in being ‘hands-on’ and working alongside the entrepreneur in his/her own company. We have a multi disciplinary team who can provide “know- how”/advisory services to help transform the company: • General corporate advisory work including !nancial • Strategic IA management and commercialization advice to unlock and maximize a company’s intellectual assets

As Investors We are interested in investing in companies with compelling IP Assets, strong management teams and good market/growth potential.

IPR-X Group has invested in the following media-related companies Pinky & Perky Sensational singing piglets of the 1960s; famous for their skits, cover versions of famous pop songs done in a long running TV series and their live appearances. Philip Townsend Archive Unique and previously unpublished collection of over 25,000 photographs taken in the swinging sixties covering key moments, fashion, personalities, models and cars.

Our Network We currently have o"ces in Singapore and London in addition to representatives and a"liates in Hong Kong.

Team Name Position Email Address David Llewelyn Chairman [email protected] Charles Chow CEO [email protected] Jeremy Hemans Director [email protected] Ng Lyn Director [email protected] Sharon Snodgrass Director [email protected]

Singapore O"ce Tel:(65) 6472 0696 IPR-X (Asia Paci!c) Pte Ltd Fax:(65) 6472 0697 43 Jalan Merah Saga Email: [email protected] #02-66 Workloft@Chip Bee Singapore 278115

200 Media Entrepreneur’s Guide to Singapore Advisory Advices

KPMG KPMG is one of the world’s leading networks of professional services !rms. With nearly 137,000 people worldwide, KPMG member !rms provide audit, tax and advisory services from 144 countries.

Services KPMG in Singapore o"ers a range of audit, tax and advisory services - helping our clients keep pace with a complex and competitive business environment. Clients across Singapore and around the world draw on KPMG professionals’ deep industry and technical knowledge in their pursuit of business growth, enhanced performance, sound governance and compliance objectives.

Audit KPMG’s Audit practice aims to deliver independent, objective and high quality audits and assist companies in the critical issues which a"ect their business. By understanding the business and the industry issues our clients operate in, our professionals convert information into insights which may lead to uncovering issues and opportunities for improved e#ciency, performance and !nancial reporting.

Tax KPMG’s Tax practice is focused on addressing our clients’ speci!c tax needs. Our professionals can help plan for tax opportunities and relevant permitted tax savings. We use our in-depth technical knowledge, and our understanding of how tax !ts into the broader business picture to work with our clients to advise them in ways to manage their tax burden.

Advisory KPMG’s Advisory practice provides tailored advice to meet the immediate needs of our clients as well as put in place the strategies for the longer term within growth, performance and governance objectives. Multi-disciplinary teams provide advisory services covering both operational and transactional activities that are needed to help mitigate risk, improve performance, and create value.

Contact Information Tan Wah Yeow KPMG in Singapore Tham Sai Choy Head of Risk Advisory 16 Ra$es Quay #22-00 Head of Audit Email: [email protected] Hong Leong Building Email: [email protected] Tel: (65) 6411 8338 Singapore 048581 Tel: (65) 6213 2500 Fax: (65) 6223 3118 Tel: (65) 6213 3388 Fax: (65) 6225 6157 Fax: (65) 6225 0984 Peter Chay Owi Kek Hean Head of Financial Advisory Head of Tax Email: [email protected] Email: [email protected] Tel: (65) 6213 3888 Tel: (65) 6213 2623 Fax: (65) 6225 0984 Fax: (65) 6224 6461

Media Entrepreneur’s Guide to Singapore 201 Advisory Services

MakeForce MakeForce is a dynamic and fast growing company that specializes in Asian market penetration. We work with entrepreneurs from around the world to bridge divides. A large proportion of our clients hail from Western countries and we provide the network and expertise for the smooth and successful set-up of their operations in Asia.

MakeForce understands the need to increase e!ciency while reducing cost and administrative redundancies. As wholehearted technovangelists, we employ digital technology to o"er a comprehensive range of business services that will address your needs. Regardless of entering new markets, tackling the challenge of conducting business in foreign languages, MakeForce has the solution for you.

Management Justin Lee Justin Lee is the CEO of MakeForce. Justin believes strongly in the power of innovation and the ability of technology to enhance the performance of human capital. He was an early-proponent of Social Software and has considerable experience in developing and implementing social software. In 2006, he helped introduce Facebook into Singapore and worked on the initial ramping of users.

Through this engagement, he has developed a proprietary user scaling model for social networking services. He believes in the potential of leveraging digital technologies to provide one-to-one experiences. Customization is the key to solving the challenges of bridging the various divides encountered around the world. Languages and cultural di"erences remain as barriers and MakeForce was set up with the aim of bridging this divide.

Gregory Gumo Gregory Gumo is a co-founder of MakeForce. He is currently serving as the Chief Business O!cer (CBO) at Yamagata Corporation and is an active technovangelist who is dedicated to encouraging the introduction and adoption of new technology to boost productivity in this 102 year old company.

Gregory has worked in the entertainment, arts and technology industry. His diverse employment history has given Greg the uncanny ability to formulate strategic and lasting partnerships that work. He believes in living in the present and enjoys travelling, programming and learning new things.

Michelle Alphonso Michelle Alphonso serves as the COO for MakeForce. She has previous experience in marketing for Glaxo SmithKline, Singapore and Concurro Inc, California and business development for Cordlife Pte Ltd, Singapore. Michelle graduated with honours in Pharmacy and a minor in Technopreneurship from the National University of Singapore. While under the University Overseas College Program, she worked in Silicon Valley and attended classes in Stanford University.

Contact Person Alexis Tihn MakeForce Pte Ltd Tel: (65) 3105 0777 Associate Executive 8 Prince George’s Park Road Email: [email protected] [email protected] Singapore 118407

202 Media Entrepreneur’s Guide to Singapore Advisory Advices

Pembridge Asia Finance and Advice to help Creative Businesses grow

Pembridge Asia provides !nance and advice to help the owners of creative businesses to build and realise value.

From Advertising to Interactive Digital Media, PR to TV, Games to Music: we work with companies that sell creative services or products to other businesses. Their owners are people who value their independence, value creativity and want to make money.

What sets Pembridge Asia apart is our perspective as investors and real-world entrepreneurs. All our partners have personally experienced the challenge of growing their own businesses, and we back our words with our own cash. Our mission is to be the !rst port of call for business growth advice and funding for creative business worldwide, through our o"ces in Singapore and London and our New York partners. Pembridge Asia also works with public sector partners worldwide, sharing our tools to manage sector and regional growth projects. Together, we minimise risk and maximise economic impact to deliver measurable outcomes: jobs and wealth in the Creative Industries.

Our Services • Business Planning • Fundraising • Mergers & Acquisitions • Non Executive Directors • Sector & Regional Growth • Speaking • Strategic Reviews • Vital Statistics

Team Name Position Email Address

Charles Letts Non-Executive Chairman N/A Governance and non-executive support Graham Lean Chief Executive [email protected] Growth of Pembridge business in SE Asia and bridging Asia and Europe

Singapore O"ce London O"ce 14 Robinson Road 14-16 Great Portland Street #13-00 Far East Finance Building London W1W 8QW England Singapore 048545 Tel: (44) 845 2600 344 Tel: (65) 6866 1410 Email: [email protected]

Media Entrepreneur’s Guide to Singapore 203 Reading list for entrepreneurs

Reading list for entrepreneurs By Douglas Abrams

Visit www.douglasabrams.com for the most updated version. Category Title Subtitle Author Comments Entrepreneurship Entrepreneurial An applied approach. Courwell Jeffry guides Financial Management Entrepreneurship Entrepreneurship A Contemporary Kuratko Donald Entrepreneurship guides Approach textbook Entrepreneurship Finding Fertile Identifying Extraordinary Shane Dr. Scott How to create scalable guides Ground Opportunities for New A. businesses. Ventures Entrepreneurship How to Raise Capital Tecnique and strategies Tomms Jeffry ja guides for finance and valuing small busimess Entrepreneurship The Entrepreneur's Wealth creation Rogers Steven guides Guide to Finance and technique for growing a Business business Finance A Random Walk Malkiel Burton G. Classic on financial Down Wall Street markets valuation techniques Finance Building Finanical Tjia John Excellent overview of Models building finanical models in Excel Finance Numerical Benninga Simon Good treatment of Techniques in spreadsheet modeling Finance Finance Simplexity The simple rules of a Kluger Jeffrey complex world Finance Stocks For The Long A Guide to Selecting Siegel Jeremy J. Run Markets for Long-Term Growth Finance Term Sheets & A Line by Line Look at Wilmerding Alex Understanding term Valuations the Intricacies of Venture sheets Capital Term Sheets & Valuations Negotiation Difficult How to discuss what Stone, Douglas, Applicable in a wide conversations matters most Patton, Heen Bruce, range of situations Sheila Negotiation Getting To Yes Negotiating Agreement Fisher Roger Without Giving In Math and science A Mathematician Paulos John Allen Excellent analysis of Plays the Stock irrationality in investor Market behavior Math and science Before the Dawn Recovering the lost Wade Nicholas history of our ancestors Math and science Chances Are…. Adventures in probability Kaplan Micheal Math and science Fantastic Voyage Live long enough to live Kurzweil Ray forever Math and science How We Believe Science, Skepticism and Shermer Micheal the search for god Math and science Inumeracy Mathematical Illiteracy Paulos John Allen and its Consequences Math and science Linked How everything is Albert Laszio 204 Media Entrepreneur’s Guide to Singaporeconnected to everything Barabasi else and what it means for business, science, and everyday life Math and science Mathematics For The Kline Morris Nonmathemetician Math and science Prisoner's Dilemma Poundstone William Math and science Quirkology The curious Science of Wiseman Richard everyday lives Math and science The Age Of Spiritual When Computers Kurzweil Ray Interesting discussion Machines Exceed Human of machine intelligence Intelligence by a successful entreprenuer Math and science The Emperor's New concerning computers, Penrose Roger Mind minds and the laws of physics Math and science The Singularity is When human transcend Kurzweil Ray Near biology Math and science The Structure Of Kuhn Thomas S. Scientific Revolutions Math and science The Wisdom of Surowiecki James Crowds Math and science Unweaving The Science,Delusion and Dawkins Richard Rainbow the appetite for wonder Venture capital Venture Capital The Definitive Guide for Cardis Joel Entrepreneurs, Investors and Practitioners Venture capital Venture Capital and Metrick Andrew the Finance of Innovation True stories Burn Rate How I Survived the Gold Wolff Michael True but hilarious Rush Years on the account of dot-com Internet start-up True stories Eboys The First Inside Account Stross Randall E. of Venture Capitalists at Work True stories Monkey Business Swinging Through the Rolfe, Troob John, Peter True but hilarious Wall Street Jungle account of working in an investment bank True stories The New New Thing A Silicon Valley Story Lewis Michael Story of Jim Clark, successful entrepreneur who started SGI and Netscape True stories When Genius Failed The Rise and Fall of Lowenstein Roger Inside look at the rise Long-Term Capital and fall of the most Management famous hedge fund Presentations Bookmaking The illustrated guide to Lee Marshall Classic work on print Math and science How We Believe Science, Skepticism and Shermer Micheal the search for god Math and science Inumeracy Mathematical Illiteracy Paulos John Allen Reading list for entrepreneurs and its Consequences Math and science Linked How everything is Albert Laszio connected to everything Barabasi else and what it means for business, science, and everyday life Math and science Mathematics For The Kline Morris Nonmathemetician Math and science Prisoner's Dilemma Poundstone William Math and science Quirkology The curious Science of Wiseman Richard everyday lives Math and science The Age Of Spiritual When Computers Kurzweil Ray Interesting discussion Machines Exceed Human of machine intelligence Intelligence by a successful entreprenuer Math and science The Emperor's New concerning computers, Penrose Roger Mind minds and the laws of physics Math and science The Singularity is When human transcend Kurzweil Ray Near biology Math and science The Structure Of Kuhn Thomas S. Scientific Revolutions Math and science The Wisdom of Surowiecki James Crowds Math and science Unweaving The Science,Delusion and Dawkins Richard Rainbow the appetite for wonder Venture capital Venture Capital The Definitive Guide for Cardis Joel Entrepreneurs, Investors and Practitioners Venture capital Venture Capital and Metrick Andrew the Finance of Innovation True stories Burn Rate How I Survived the Gold Wolff Michael True but hilarious Rush Years on the account of dot-com Internet start-up True stories Eboys The First Inside Account Stross Randall E. of Venture Capitalists at Work True stories Monkey Business Swinging Through the Rolfe, Troob John, Peter True but hilarious Wall Street Jungle account of working in an investment bank True stories The New New Thing A Silicon Valley Story Lewis Michael Story of Jim Clark, successful entrepreneur who started SGI and Netscape True stories When Genius Failed The Rise and Fall of Lowenstein Roger Inside look at the rise Long-Term Capital and fall of the most Management famous hedge fund Presentations Bookmaking The illustrated guide to Lee Marshall Classic work on print design/ production/ layout and design editing Presentations Envisioning Tufte Edward Classic on graphic Information design Presentations The Elements Of Style William Strunk, Jr. and Strunk William Classic work on writing E.B. White style and usage Presentations The Visual Display Of Tufte Edward Classic on graphic Quantitative design Information Presentations Visual Explanations Images and Quantities, TufteMedia Entrepreneur’sEdward GuideCla toss Singaporeic on graphic 205 Evidence and Narrative design Marketing and Blue Ocean Strategy How to Create Kim and W. Chan Applying competitive Uncontested Market Mauborgne and Renée entrepreneurial strategy Space and Make marketing techniques Competition Irrelevant to existing companies Marketing and Competitive Creating and Sustaining Porter Michael E. competitive Advantage Superior Performance strategy Marketing and Competitive Strategy Techniques for Analyzing Porter Michael E. Classic marketing text competitive Industries and strategy Companies Marketing and Crossing The Chasm Marketing and Selling Moore Geoffrey A. competitive High-Tech Products to strategy Mainstream Customers Marketing and DigiMarketing The Essential Guide to Wertime and Kent and Excellent overview of competitive New Media and Digital Fenwick Ian new media channels strategy Marketing and business models Marketing and Market Driven Day George S. Good overview of competitive Strategy marketing strategy strategy Marketing and The Breakthrough How everyday McFarland Keith competitive Company companies become strategy extraordinary performers Marketing and The Long Tail Why the Future of Anderson Chris How Web 2.0 is competitive Business Is Selling Less rewriting the nature of strategy of More marketing and distribution. Economics Against the Gods The Remarkable Story of Bernstein Peter L. Risk Economics Fooled by The Hidden Role of Taleb Nassim Challenges basis of Randomness Chance in Life and in the Nicholas finance and Markets investment theory Economics Predictably Irrational The hidden force that Ariely Dan shape our decisions Economics Synthetic Worlds The Business and Castronova Edward The first serious look Culture of Online Games at the reality of virtual worlds and virtual economies Economics The Ascent of Money A Financial History Of Ferguson Niall the World Economics The Black Swan The Impact of the Highly Taleb Nassim Expands on Fooled by Improbable Nicholas Randomness Presentations Bookmaking The illustrated guide to Lee Marshall Classic work on print design/ production/ layout and design editing Presentations Envisioning Tufte Edward Classic on graphic Information design Presentations The Elements Of Style William Strunk, Jr. and Strunk William Classic work on writing E.B. White style and usage Presentations The Visual Display Of Tufte Edward Classic on graphic Quantitative design Reading list for entrepreneurs Information Presentations Visual Explanations Images and Quantities, Tufte Edward Classic on graphic Evidence and Narrative design Marketing and Blue Ocean Strategy How to Create Kim and W. Chan Applying competitive Uncontested Market Mauborgne and Renée entrepreneurial strategy Space and Make marketing techniques Competition Irrelevant to existing companies Marketing and Competitive Creating and Sustaining Porter Michael E. competitive Advantage Superior Performance strategy Marketing and Competitive Strategy Techniques for Analyzing Porter Michael E. Classic marketing text competitive Industries and strategy Companies Marketing and Crossing The Chasm Marketing and Selling Moore Geoffrey A. competitive High-Tech Products to strategy Mainstream Customers Marketing and DigiMarketing The Essential Guide to Wertime and Kent and Excellent overview of competitive New Media and Digital Fenwick Ian new media channels strategy Marketing and business models Marketing and Market Driven Day George S. Good overview of competitive Strategy marketing strategy strategy Marketing and The Breakthrough How everyday McFarland Keith competitive Company companies become strategy extraordinary performers Marketing and The Long Tail Why the Future of Anderson Chris How Web 2.0 is competitive Business Is Selling Less rewriting the nature of strategy of More marketing and distribution. Economics Against the Gods The Remarkable Story of Bernstein Peter L. Risk Economics Fooled by The Hidden Role of Taleb Nassim Challenges basis of Randomness Chance in Life and in the Nicholas finance and Markets investment theory Economics Predictably Irrational The hidden force that Ariely Dan shape our decisions Economics Synthetic Worlds The Business and Castronova Edward The first serious look Culture of Online Games at the reality of virtual worlds and virtual economies Economics The Ascent of Money A Financial History Of Ferguson Niall the World Economics The Black Swan The Impact of the Highly Taleb Nassim Expands on Fooled by Improbable Nicholas Randomness Economics The Mind of the Compassionate Apes, Shermer Micheal Market Competitive Humans, and other tales from evolutionary economics Economics The Tipping Point How little things can Gladwell Malcolm make a big difference Economics The Undercover Harford Tim Economist Economics Three Billion New The Great Shift of Wealth Prestowitz Clyde Capitalists and Power to the East Economics Why Smart People Lessons from the New Belsky Gary Make Big Money Science of Behavioral Mistakes and How to Economics Correct Them

206 Media Entrepreneur’s Guide to Singapore Index

Vertex Management (II) 49 Index page Vickers Venture Partners 50 Title Page 1 Walden International 51 Copyright Page 2 S$20 million NRF Early-Stage Venture Funds 52 Introduction 4 International section: International VC funds 53 Opportunities in Singapore for early and growth stage companies 4 Ariadne Capital 53 Opportunities in Singapore for media entrepreneurs 4 DTA Capital 54 The Media Entrepreneur’s Guide to Singapore 4 Gobi Partners 55 Challenges facing media entrepreneurs in Singapore 5 Imprimatur Capital 56 About our supporting organizations 8 Angel Funding 57 Contributors 9 BAF Spectrum 57 Editorial 10 Finn Evdemon Capital Partners 58 Map of the Singapore Capital Markets 10 Tigris Capital 59 The Startup Fundraising Game Guide 12 Individual angel investors 60 Pre-seed: from idea to business plan 12 Alex Carrausse 60 Seed: from plan to prototype 12 Andrew Ng 61 Series A: from product to revenue 13 Chew Mun Hou 62 Series B: from revenue to pro!tability 13 Chris Evdemon 63 Danger and opportunity; risk and return 14 Clarence Tan 64 Dangerous point or turning point? 14 David Young 65 Risk and return 14 Desai Narasimhalu 66 What is risk? 14 Dominique Pommier 67 What is the relationship between risk and return? 15 Douglas Abrams 68 Why are there no low risk/high return investments? 15 Eugene Wong 69 Tips for Startup Success 17 Francis Chua 70 Start with a clear vision 17 Hellmut Schütte 71 De!ne the road map 17 Ho Chin Beng 72 Build a stellar team 17 James Tay Chin Kwang 73 Drive the execution 18 Joe Rouse 74 Adopt a customer-centric focus 18 Junior Lee 75 Raise su"cient capital 18 Laurent Roux 76 Choose the right investor 18 Leslie Loh 77 Valuation – what is the company worth? 19 Mark Langhammer 78 What do investors look for in a business plan? 22 Wong Meng Weng 79 Key elements for success 22 Michael Holt 80 But isn’t media di#erent? 22 Peter Tay 81 Business plan outline 24 Pierre Hennes 82 Cover page and table of contents 24 Robert Bong 83 Executive summary 24 Steve Melhuish 84 Value proposition and innovation 24 Walter Lee 85 Market identi!cation and analysis 24 Wong Poh Kam 86 Market and industry 24 Yen-Lu Chow 87 Targeting segment 24 i.JAM Incubators 88 Competition 24 Athena Innobator 89 Customers 24 Azione Capital 90 Marketing and sales strategy 25 Expara IDM Ventures 91 Sustainable competitive advantage 25 Frontedge Capital 92 Company products and services 25 NUS Enterprise and The Garag3 93 Team 25 NTU Ventures 94 Operational plan 25 Singapore Infocomm Technology Federation (SiTF) 95 Expansion plan 25 Stream Global 96 Financials 25 Thymos Capital 97 Business model 25 Private Equity Funding 98 Financial projections 26 Crest Capital Asia 98 Valuation 26 Green Mountain Investments 99 Funding required and equity o#ered 26 Henderson Equity Partners 100 Uses of proceeds 26 Hina Capital Partners 101 Exit strategy and ROI 26 Mercatus Capital 102 Appendices 26 Pierce & Pierce Group 103 Business plan writing, structure and design 26 SEAVI Advent Private Equity 104 Business plan questions 27 Standard Chartered Private Equity 105 The fundraising process 28 Sycamore Ventures 106 Equity Funding Sources 31 Corporate Investors 107 Venture Capital Funding 31 MediaCorp 107 VC funds with local presence 31 Singapore Press Holdings 108 3V SourceOne Capital 31 Specialized Funding Sources 109 Fortune Venture Management 32 Specialized Content Funds 109 Giza Venture Capital 33 In!nite Frameworks 109 IDG Ventures 34 Mega Media 110 iGlobe Group 35 Neo Studios 111 Innosight Ventures 36 RGM Entertainment 112 JAFCO Asia 37 Salon Media 113 JAIC Asia Capital 38 Six-Six-Eight 114 Japan Venture Partners 39 Market Trading Platform 115 McLean Watson Capital 40 OTC Capital 115 OWW Capital Partners 41 Debt Funding Sources 116 Peacock Equity Fund 42 Featured Institutions 116 SBI Ven Capital 43 DBS Bank 116 Sirius 44 Hong Kong and Shanghai Banking Corporation (HSBC) 117 SkyVen Asset Management 45 Hong Leong Finance 118 Tembusu Partners 46 Oversea-Chinese Banking Corporation (OCBC) 119 UOB Venture Management 47 RHB 120 Upstream Ventures 48 Standard Chartered 121 Media Entrepreneur’s Guide to Singapore 207 Index

Institutions Participating in Public Sector Debt Funding Schemes 122 CSIT Technology Innovation Fund (TIF) 155 Financial institutions providing bridging loans 122 Network Builders 156 SPRING Singapore Bridging Loan Programme (BLP) 122 Investor Organizations 156 Financial institutions participating in the Loan Insurance Scheme Business Angel Network South East Asia (BANSEA) 156 (LIS and LIS+) 123 Business Angels (Australia) 157 SPRING Singapore Loan Insurance Scheme (LIS) and LIS+ 123 China Business Angel Network 158 Financial institutions providing Local Enterprise Finance Scheme (LEFS) Singapore Venture Capital & Private Equity Association (SVCA) 159 loans 125 Entrepreneurship Organizations 160 SPRING Singapore Local Enterprise Finance Scheme (LEFS) 125 Asia-Paci"c Student Entrepreneurship Society (ASES) 160 Financial institutions providing micro loans 126 Entrepreneur 27 (e27) Singapore 161 SPRING Singapore Micro Loan Programme 127 nuStart 162 Financial institutions participating in IE Singapore’s Internationalization Project: Senso 163 Finance Scheme 128 Singapore (SG) Entrepreneurs 164 IE Singapore’s International Finance Scheme (IF Scheme) 129 Start-up@Singapore (S@S) 165 Public Sector Funding & Development Schemes 130 The Digital Movement 166 IE Singapore 130 The Indus Entrepreneurs (TiE) Singapore 167 Financing Options 130 Government-linked Organizations 168 Enterprise Fund 130 Action Community for Entrepreneurship (ACE) 168 Grants: Building and Developing Manpower 131 Agency for Science, Technology and Research (A*STAR) and Exploit Local Enterprise and Association Development Programme (LEAD) 131 Technologies 169 Malaysia-Singapore Third Country Business Development Fund 132 Association of Small and Medium Enterprises (ASME): Tax Support 132 Enterprise Development Centre 170 Double Deduction for Overseas Investment Development Expenditure Intellectual Property O!ce of Singapore (IPOS) 171 (DD) 132 Singapore-MIT GAMBIT Game Lab 172 Double Tax Deduction (DTD) Scheme for Market Development 133 University Initiatives 173 Infocomm Development Authority (IDA) 134 Entrepreneurship Project Clearinghouse 173 Infocomm Industry Partnership Programmes 134 iMedia Centre 174 Infocomm Local Industry Upgrading Programme (iLIUP) 134 Interactive & Digital Media Institute (IDMI) 175 Overseas Development Programme (ODP) 135 NUS Enterprise 176 Internationalisation Programme 135 NUS Entrepreneurship Centre (NEC) 177 Infocomm Singapore – Innovations in Action 136 Institute of Innovation & Entrepreneurship (IIE) 178 Overseas O!ce 137 Standard Chartered iLab @ SMU 179 ASEAN 137 Industry Associations 180 IDA Headquarters 137 Association of Independent Television Production Companies (Singapore) 180 United States 137 Games Exchange Alliance (GXA) 181 India 137 International Game Developers Association (IGDA) 182 China 138 Learning Sciences Lab (LSL) 183 Middle East 139 Singapore Animators Connection (SAC) 184 Interactive Digital Media R&D Programme O!ce (IDMPO) 140 Spirit of Enterprise (SOE) 185 Support for Institutes of Higher Learning: i.ROCK 141 The Institution of Engineers, Singapore (IES) 186 Support for Industry: Futurescape 141 Industrial Partnership 187 Support for Startups: i.JAM 141 ST Electronics 187 Bringing Them Together: i.MATCH 142 Incubators 188 Media Development Authority (MDA) 143 EuroINC 188 National Research Foundation 144 HotSpots Incubators 189 National Framework for Innovation and Enterprise (NFIE) 144 Technopreneur Centre @ Bukit Merah 189 NFIE Initiatives: Creating Enterprise Support Structures 144 Technopreneur Centre @ Ayer Rajah 189 Proof of Concept (POC) Grants 144 iHub 189 Technology Incubation Scheme 144 iAxil@Singapore Science Park 190 Early-Stage Venture Funding 144 The Connection 190 Disruptive Innovation (DI) Incubator 145 NUS Business Incubator 190 Enhancing Technology Transfer 145 SMU Business Innovations Generator 191 Translational R&D Grants for Polytechnics 145 Suntec City 191 National IP Principles for Publicly-funded R&D 145 iAxil Venture Accelerator 192 Innovation Vouchers Scheme 145 ODM Innovations 193 Industry Proof-of-Concept and Technology Incubation Scheme 145 Advisory Services 194 Supporting Innovation Policy Studies 145 Active Capital Asia 194 Innovation Policy Centre 145 Arkbridge Asia 195 Establishing Support for Academic Entrepreneurs in Universities 145 BlueOcean Capital Partners 196 CREATE 146 CRICT Research & Consulting Group 197 CREATE Entity 147 Expara 198 Competitive Research Programme Funding Scheme 148 Get2Volume 199 SPRING Singapore 149 IPR-X 200 Business Angel Scheme (BAS) 149 KPMG 201 Enterprise Investment Incentive Scheme 149 MakeForce 202 SPRING Startup Enterprise Development Scheme (SPRING SEEDS) 150 Pembridge Asia 203 Young Entrepreneurs Scheme for Startups (YES! Startups) 150 Reading list for entrepreneurs 204 Deal Flow Connection 151 Intellectual Property Management (IPM) for SME Programme 152 Local Enterprise Technical Assistance Scheme (LETAS) 152 SME Management Action for Results (SMART) Initiative 153 Standards Implementation for Productivity (SIP) 153 Technology Innovation Programme (TIP) 154 Bridging Loan Programme (BLP) 154 Loan Insurance Scheme (LIS) and LIS+ 154 Local Enterprise Finance Scheme (LEFS) 154 Micro Loan Programme 154 Over-the-Counter (OTC) Capital 154 Other Agencies 155 Centre for Strategic Infocomm Technologies (CSIT) 155

208 Media Entrepreneur’s Guide to Singapore